Industry Pushback: Hosted Bitcoin Mining ‘Clearly Not a Security’

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Crypto industry executives are pushing back hard against the SEC’s claim that hosted Bitcoin mining can be a securities offering. Blockware Intelligence head Mitchell Askew said legitimate hosted mining involves nothing more than purchasing hardware and electricity — not pooled capital or profit-sharing.

Askew argued that VBit’s alleged practices don’t reflect standard hosting models and warned against using one outlier case to redefine the entire Bitcoin mining industry.