Poolin, a major cryptocurrency mining pool with significant operations in China, on Thursday announced a partnership with Quant Satoshi to further expand its mining operation in the U.S.
Fast facts
- Poolin has partnered with Quant Satoshi, an American quantitative trading firm that focuses on crypto high frequency trading, to expand Poolin’s U.S. presence, the company said in a statement.
- As part of the partnership, Quant Satoshi CEO Hao Wang will serve as Poolin’s VP of U.S. operation, and Quant Satoshi COO Alban Gasser will take on the role of head of business development at Poolin.
- The partnership was formed to build Bitcoin mining facilities in Texas and further expand across the U.S., while allowing Poolin to “expand business on the trading side,” the company said in the statement.
- Poolin has been actively moving its mining operation from China to the U.S., with efforts to relocate some of its executives to Austin, Texas — a state that is emerging to be a friendly destination for crypto mining.
- As China intensifies its crackdowns on crypto mining, many miners have shut down their facilities in China and are leaving for other places that appear to be more regulation-friendly and offer relatively cheap electricity.