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Crypto boss 'sees' bitcoin mining shift from China to Americas

Grayscale says 'real growing' effort is under way to move activity away from China, which dominates digital coin mining.

The world's biggest cryptocurrency asset manager said on Tuesday that it was seeing efforts to shift bitcoin production to North America from China, which dominates digital coin mining.

Bitcoin Mining Shift

"What I have seen recently, probably over the past three to six months, is a real growing shift towards attempts to move a lot of that activity outside of China into specifically the United States and Canada," said Barry Silbert, founder of New York-based Grayscale Investments, in an online presentation to investors. Silbert did not specify why the shift was happening.

Many mainstream investors such as pension funds or asset managers have been reluctant to embrace bitcoin, concerned at its volatility, security breaches and lack of transparent markets. Read More...