New York-based Bit Digital is expanding its operations to Iceland in a bid to hedge the bitcoin-mining company’s regulatory risk amid a proposed a crypto-mining tax from the Biden administration. Samir Tabar, chief executive of Nasdaq-listed Bit Digital, told The Wall Street Journal that the company bought 2,500 new bitcoin-mining machines for $5 million last week and will house them in Iceland, the company’s first time sending new computers outside the U.S. in two years. Bitcoin miners’ electricity consumption has drawn ire from the Biden administration.