Bitmain, a Chinese manufacturer of crypto mining equipment, was forced to cease operations in China on October 11 following a cryptocurrency ban imposed by local authorities.
In addition to China’s sweeping ban on crypto activities, the company is viewing the move to stop shipping Bitcoin (BTC) and crypto mining rigs in response to its policy of neutrality with China’s carbon. According to Bitmain’s announcement:
“As of October 11, 2021, Antminer will stop shipping to mainland China. For customers in mainland China who have long purchased products, our staff will contact them to offer alternative solutions. “
While the company is yet to announce its plans to support existing customers in China, Bitmain will continue to offer Antminer crypto mining rigs to users around the world, including Taiwan and China.
To counter the temporary slowdown in the Chinese market, Bitmain has increased the production capacity of mobile mining containers – Antbox. In November, the company will host the 2021 World Digital Mining Summit in Dubai, where it will discuss ways to mine green energy, “primarily from power generation projects,” clean energy in Yunnan, Xinjiang and other provinces in China.
Bitmain did not immediately respond to Cointelegraph’s request for comment.
Related: Hash rate and recovery difficulty indicate that the miners have recovered from the Chinese exodus
Despite China’s recent ban on crypto activities, bitcoin mining is on the verge of a full recovery as Chinese investors and miners move to friendly jurisdictions.
Cointelegraph reports that Bitcoin’s hash rate difficulty has increased 39% since the end of July. In addition, the Chinese media agent Wu has blockchain shown Bitcoin difficulty increased 4.71% on October 5th at block height 703,584, marking the sixth consecutive increase since July 31st.
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Author
Bitmain, a Chinese manufacturer of crypto mining equipment, was forced to cease operations in China on October 11 following a cryptocurrency ban imposed by local authorities.
In addition to China’s sweeping ban on crypto activities, the company is viewing the move to stop shipping Bitcoin (BTC) and crypto mining rigs in response to its policy of neutrality with China’s carbon. According to Bitmain’s announcement:
“As of October 11, 2021, Antminer will stop shipping to mainland China. For customers in mainland China who have long purchased products, our staff will contact them to offer alternative solutions. “
While the company is yet to announce its plans to support existing customers in China, Bitmain will continue to offer Antminer crypto mining rigs to users around the world, including Taiwan and China.
To counter the temporary slowdown in the Chinese market, Bitmain has increased the production capacity of mobile mining containers – Antbox. In November, the company will host the 2021 World Digital Mining Summit in Dubai, where it will discuss ways to mine green energy, “primarily from power generation projects,” clean energy in Yunnan, Xinjiang and other provinces in China.
Bitmain did not immediately respond to Cointelegraph’s request for comment.
Related: Hash rate and recovery difficulty indicate that the miners have recovered from the Chinese exodus
Despite China’s recent ban on crypto activities, bitcoin mining is on the verge of a full recovery as Chinese investors and miners move to friendly jurisdictions.
Cointelegraph reports that Bitcoin’s hash rate difficulty has increased 39% since the end of July. In addition, the Chinese media agent Wu has blockchain shown Bitcoin difficulty increased 4.71% on October 5th at block height 703,584, marking the sixth consecutive increase since July 31st.
.
.
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