13 Countries Implement Bitcoin Mining, Reports VanEck

Matthew Siegel, head of digital asset research at major U.S. asset management firm VanEck, disclosed in an interview with CNBC that governments of 13 countries are currently directly involved in Bitcoin (BTC) mining operations. These countries include El Salvador, Bhutan, Ethiopia, Kenya, Iran, and the United Arab Emirates, with some utilizing government-owned energy resources. Related: U.S. Venezuelan oil development could lower Bitcoin mining costs, according to Bitfinex. The backdrop includes emerging nations facing high inflation and restricted access to the U.S. dollar, converting surplus electricity into cryptocurrency...