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Bitcoin Mining has become the latest industry to be embroiled in the Ukrainian and Russia conflict following the U.S treasuries move to sanction BitRiver.
The sanctions against BitRiver are not unique to their business, with the European Union and the U.S. imposing a series of tough sanctions on Russia since the nation invaded Ukraine in February. The sanctions, which are mainly targeting President Vladamir Putin and Russian oligarchs, are aimed at crippling the country’s economy and penalizing the president and his high-ranking officials.
The move by the Treasury on Bitriver could end up creating potential for cryptocurrency self-mining and hosting colocation firms such as Mawson Infrastructure Group Inc. (NASDAQ: MIGI). Bitcoin miners that had their machines hosted in Bitriver’s data centers may shift to neighboring countries and overseas to regions where companies like Mawson operate.
Mawson recently partnered with Celsius Mining LLC and Foundry Digital LLC to have 112 MW of hosting contracts, bringing a total of 116 MW for hosting customers. The hosting deals place Mawson among the largest hosting colocation companies listed on The Nasdaq Stock …
Full story available on Benzinga.com