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Felicia Tan
June 2 09:54

Opinion: Bitcoin production capacity will continue migrating to the West

Head of Ripple SBI Asia Adam Traidman is convinced of the inevitability of mass relocation of Bitcoin production facilities from East to West, reports Cointelegraph.
According to Traidman, the migration process has already begun and will continue in the future.
However, Traidman noted that Texas miners dislike newcomers from China. Therefore, the expert believes, there may be some tension in this segment of business in the near future.
The expert added that migrations to the West are to some extent hampered by protectionist measures imposed by the US against China and affecting the mining industry.
He noted that so far the majority of clients of the largest suppliers of mining equipment are in China.
Also, according to Traidman, Europe used to attract many leading players in the industry. However, by now the situation has changed significantly due to "high operating costs in this region".
Recently, CryptoKea analyst expressed confidence that the capitulation of bitcoin majors has already started and the trend will only increase.