Bitmain continues expansion into Switzerland

The Beijing company Bitmain is currently the largest manufacturer of mining devices. Last December, the Swiss project “Zug Crypto Valley” included Bitmain in its list of participants

Bitmain has repeatedly stated its intentions to expand globally, so the soft regulatory environment in the global center of business and financial activity should serve as a springboard for entering the European market. 

Bernard Müller, Business Development Manager at Bitmain Switzerland, said:

"We will provide entrepreneurs with access to investment so that they can implement their blockchain projects. We want to support and contribute to the development and growth of the Swiss fintech system. We want the brightest minds to stay and work in Switzerland, and not go to Wall Street."

Bitmain is currently recruiting staff at the newly opened office in Zug. According to Bitmain Switzerland, it plans to have around ten employees by the end of the year. Bitmain recently founded the decentralized exchange DEx.top, which will trade tokens from European digital companies.

“If Switzerland wants to become a crypto nation, then it needs a professional crypto exchange,” Mullen added. “European ICOs are without a doubt of the highest quality.”

Bitmain’s dominant position in the mining market is not everyone’s cup of tea. Some critics point to the possible negative impact the giant could have on an area that was developed to escape the control of monopoly companies and government agencies. 

Bitmain representative Nishant Sharma commented on this issue via email:

“Bitmain is taking a responsible approach to its dominant position in the mining hardware market.” 

According to company employees, they do not give preference to large mining operators when selling equipment, and also maintain a public record of all shipments and deliveries.