The recent purchase of Cryptouniverse by BlokForge expands the distribution of Bitcoin (BTC) mining hardware in Europe. China has recently announced that it will clamp down on cryptocurrency mining on its territory. The country currently accounts for more than 65% of bitcoin mining worldwide, making this regulatory change pose a serious threat to cryptocurrencies. For this reason, companies dedicated to mining and their equipment and accessories have put the batteries to weather the storm. Thus, BlokForge, a crypto mining equipment and accessories company, has announced the acquisition of Cryptouniverse, a major online mining distributor for Europe. The expansion of the business will expand Bitcoin mining on a global scale. Bitcoin is the future “Bitcoin is the future,” said Nick Jackson, CEO and founder of BlokForge. “The world is constantly embracing decentralized money and it is important that cryptocurrency mining technology meets the growing demand.” This acquisition will expand BlokForge’s influence in the crypto mining industry. With full control of the Cryptouniverse platform, BlokForge will oversee distribution in the European market and further develop its global reach. Cryptouniverse was established in 2017 to distribute large-scale mining hardware and equipment throughout the European market. Like BlokForge, the company was a distributor of the leading ASIC miner provider, Canaan. The importance of decentralization Until now, mining hardware was highly centralized, which represented a certain weakness since decisions such as that of the Chinese government could have seriously affected the sector. This purchase, and the addition of Crytouniverse to the BlokForge brand provides a broader platform to distribute mining hardware and accessories and will greatly benefit independent miners and smaller farms using renewable energy and ASIC hardware integration in green businesses. existing where the by-product of heat is used for the agriculture of plants or organisms. Despite the exodus of miners out of China, this country remains a large cluster of Bitcoin miners in the world, whose production was spurred by the spectacular increases in the value of the currency in early 2021. This makes it essential to expand access to crypto mining hardware and services in other countries, and therefore decentralize.
CNY - Chinese Yuan Renminbi