As per The Coin Republic, asset manager VanEck has added Japan to the list of 11 countries engaging in government-sponsored Bitcoin mining. This follows a 4.5 MW order by a Japanese utility from Bitcoin mining machine maker Canaan to use Avalon rigs for stabilizing regional grid load. Japan's government has partial ownership in all 10 regional utilities, making the country the 11th globally with state-aligned mining. Matthew Sigel, head of digital assets research at VanEck, confirmed the inclusion, noting that the United States is not currently on the list but could join under President Donald Trump. Canaan's stock rose over 14.50% on the news.
Japan Joins 11 Nations in Government-Sponsored Bitcoin Mining, Says VanEck
The Coin RepublicShare
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