Regulatory Support Accelerates Cryptocurrency Mining Operations

Businesses are becoming increasingly open minded in regards to using cryptocurrencies for official operations. After several months of complicated market conditions for cryptocurrencies, Bitcoin and other digital assets are rising in value once again. Generally, the acceptance of digital currencies as a payment or as an investment opportunity is becoming more common around the world.

For example, according to data published by Blockdata, most major banks have invested in crypto and blockchain-related companies in 2021. Out of the top 100 banks by assets under management, 55 have invested in cryptocurrency and/or blockchain-related companies, either directly or through subsidiaries. AGM Group Holdings Inc. (NASDAQ: AGMH), Marathon Digital Holdings, Inc. (NASDAQ: MARA), The OLB Group, Inc. (NASDAQ: OLB), Bit Digital, Inc. (NASDAQ: BTBT), Riot Blockchain, Inc. (NASDAQ: RIOT).

Earlier in September, Mastercard announced that it had agreed to acquire the blockchain analytics start-up CipherTrace, in the latest sign of how major companies are warming to the technology.

"Digital assets have the potential to reimagine commerce, from everyday acts like paying and getting paid to transforming economies, making them more inclusive and efficient,"

said Ajay Bhalla, President, Cyber & Intelligence at Mastercard.

"With the rapid growth of the digital asset ecosystem comes the need to ensure it is trusted and safe. Our aim is to build upon the complementary capabilities of Mastercard and CipherTrace to do just this."

Overall, the global blockchain market is expected to grow by USD 15.1 Billion by 2024 at a CAGR of 69.3% according to Market Research Engine.

Information provided by FinancialNewsMedia.


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