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Bitmain, a Chinese maker of cryptocurrency mining equipment, was forced to cease operations in China from October 11 following a crypto ban imposed by local authorities.
In addition to China’s general ban on crypto operations, the company attributed the decision to stop shipping Bitcoin (BTC) and cryptocurrency mining rigs in response to carbon neutrality policies. from China. According to Bitmain’s announcement:
“As of 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 suggest alternative solutions. “
Although the company has yet to reveal its plan to help existing customers in China, Bitmain will continue to provide Antminer crypto mining platforms to users around the world, including Taiwan and Hong Kong.
To counter the temporary slowdown in the Chinese market, Bitmain has increased its 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 green energy mining opportunities “mainly derived from clean power generation projects in Yunnan, Xinjiang” and other provinces. Chinese.
Bitmain did not immediately respond to Cointelegraph’s request for comment.
Related: Hash rate and rebound in difficulty show miners recovered from Chinese exodus
Despite China’s recent ban on crypto activity, Bitcoin mining operations are on track for a full recovery as Chinese miners and investors move to friendly jurisdictions.
Cointelegraph reported that Bitcoin’s hash rate difficulty has increased by 39% since the end of July. In addition, the Chinese media Wu Blockchain underline that Bitcoin’s difficulty rose 4.71% to a block height of 703,584 on October 5, marking the sixth consecutive increase since July 31.
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