Bitmain, the largest manufacturer of Bitcoin mining equipment in China, has announced that it will stop shipping its flagship Antimer product to China in response to ongoing regulatory raids in the country.
Bitmain will stop shipping Antminers to China this October
According to the company’s announcement, the suspension of Antminer delivery will begin today – Monday October 11th, and will only affect customer demand in mainland China. Bitmain said Taiwan and Hong Kong will not be affected by the new decision. In order to better define the efforts of the federal government to reduce CO2 emissions, the company claims to have received indicators from clean energy to help monitor carbon consumption.
“Actively responding to local government guidelines towards business units has always been Bitmain’s business strategy.”the company said in its announcement, adding that “In response to the Chinese government’s carbon neutral policy, Bitmain has made a number of carbon index purchases. The indicators come mainly from clean energy power generation projects in Yunnan, Xinjiang and elsewhere in China. We will then announce the use of these CO2 emission targets. “
Important NOTE: All content on the website is for informational purposes only and does not constitute investment advice. Your money, the choice is yours.
Bitmain stops shipping Antminers to China as crypto mining energy demand is overtaken
Mining Bitcoin (BTC) and other proof-of-work (PoW) cryptocurrencies can be energy-intensive, and outside of China, this has largely caused regulators to take an unwelcome stance in the past. Welcome to the digital currency ecosystem.
However, things are starting to change as more and more miners start looking for a sustainable source of energy to power their operations. A big detour by the norm, El Salvador is exploring geothermal energy sources from the country’s rich volcanoes as the primary power generation option for its planned Bitcoin mining adventure. There are predictions that more miners will be involved in renewable energy options in the near future.
In addition to taking the move to stop selling machinery in the China region, Bitmain is also exploring innovative alternative energy-saving production models, a development that will benefit customers around the world.
“We will continue to work in the future to lower the energy efficiency quota of core chips, to buy CO2 emission indicators worldwide, to educate customers about clean energy and to contribute to the green and sustainable development of mankind”, said the company.