New North American Mining Pool Bets On Region And Regulatory Compliance
North American bitcoin mining farms all use mining pools to ensure steady block rewards, compiling hash power from miners operating remotely to compete with the industrialized farms based in China. Most of these mining farms use China-based mining pools (pools whose headquarters and, perhaps, servers for collecting hash power, are located in China) because the fees that they charge for collecting and distributing hash power are the lowest in the world. However, the days of unregulated mining pools serving the North American market may be ending. And hoping to fill that potential void....
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Marathon plans to divert all hash power to its new, regulatory compliant Bitcoin mining pool from May 1. Major U.S.-based mining firm Marathon Digital Holdings has announced the launch of what it describes as the first North American Bitcoin mining pool that is “fully compliant with U.S. regulations.”According to a March 30 announcement, the pool adheres to U.S. anti-money laundering guidelines and rules set out by the Office of Foreign Asset Control, or OFAC. Marathon will ensure the transactions processed by its pool meet regulatory standards by using technology exclusively licensed by....
China's crackdown on bitcoin mining has demonstrably benefited North American firms.
As one of North America’s largest institutional bitcoin mining operations, Hut 8 is bringing 14,400 mining rigs to the U.S.-based pool.