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Bit Digital Expands Bitcoin Mining to Iceland Amid US Regulatory Pressure

New York-based Bitcoin mining company Bit Digital is expanding its infrastructure in Iceland by placing 2,500 newly bought mining machines there. The move is in response to growing regulatory pressure and a proposed cryptocurrency mining tax in the United States.

Bit Digital plans to announce the sending of the new Bitcoin mining computers outside the US at the Bitcoin 2023 conference in Miami. The company's CEO, Samir Tabar, cited regulatory uncertainty and a broader government crackdown on digital asset companies in the US as the reason for the decision.

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