Bitmain stops cargo of Antminer crypto mining rigs into China
Bitmain, a Chinese producer of cryptocurrency mining tools, has been compelled to cease its enterprise in China from Oct. 11 following the crypto ban imposed by native authorities.
In addition to China’s blanket ban on crypto operations, the corporate has attributed the transfer to cease delivery Bitcoin (BTC) and cryptocurrency mining rigs as a response to China’s carbon-neutral insurance policies. According to Bitmain’s announcement:
“From October 11, 2021, Antminer will stop shipping to mainland China. For customers in mainland China who have purchased long-term products, our staff will contact them to provide alternative solutions.”
While the corporate has but to disclose its plan to assist current prospects in China, Bitmain will proceed to produce Antminer crypto mining rigs to customers internationally together with these in Taiwan and Hong Kong.
To counter the non permanent slowdown within the Chinese market, Bitmain has elevated its manufacturing capability for cell mining containers — Antbox. In November, the corporate will host World Digital Mining Summit 2021 in Dubai, the place it can talk about inexperienced power mining alternatives “mainly derived from clean energy power generation projects in Yunnan, Xinjiang” and different Chinese provinces.
Bitmain didn’t instantly reply to Cointelegraph’s request for remark.
Related: Hash price and problem rebound reveals miners have recovered from China exodus
Despite China’s latest ban on crypto actions, Bitcoin mining operations are on the trail to full restoration as Chinese miners and traders transfer to pleasant jurisdictions.
Cointelegraph reported that Bitcoin’s hash price problem has elevated 39% since late July. Moreover, Chinese media outlet Wu Blockchain pointed out that Bitcoin’s problem elevated by 4.71% at block peak 703,584 on Oct. 5, marking the sixth consecutive improve since July 31.