Middle east

Chinese companies have jumped on the bandwagon of bitcoin mining, either under the guise of cloud computing or providing mining hosting services, in an effort to bypass regulations.

Many Chinese cryptominers have migrated to places with cheap electricity and favorable policies as a result of the escalated government crackdown on cryptocurrency and its production process. Since late 2018, the oil-rich Middle East country of Iran has become a hotspot for Chinese miners.

Huobi Group revealed at the World Blockchain Summit in Dubai that the company is looking to expand its operations to the Middle Eastern, African and South Asian markets in a bid to provide services to its unbanked or underbanked residents.

In a MOU signed recently, Saudi Telecom Company and ConsenSys agreed to work together to design and build out blockchain technology.

The Middle East and North Africa remain one of the more difficult parts of the world in which to acquire bitcoins. Although largely justified...