After local authorities imposed a cryptocurrency ban, Bitmain, a Chinese manufacturer of cryptocurrency mining equipment, was forced to cease operations in China from October 11th.
also China completely bans encryption business, The company attributed the move to stop shipping bitcoins to (Bitcoin) And cryptocurrency mining equipment as a response to China’s carbon neutral policy.According to Bitmain announcement:
“From October 11, 2021, Antminer will stop shipping to mainland China. For mainland Chinese customers who purchase long-term products, our staff will contact them to provide alternative solutions.”
Although the company has not disclosed its plans to help existing customers in China, Bitmain will continue to provide Antminer encrypted mining equipment to users worldwide, including Taiwan and Hong Kong.
In response to 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 to discuss green energy mining opportunities “mainly from Yunnan and Xinjiang clean energy power generation projects” and other provinces in China.
Bitmain did not immediately respond to Cointelegraph’s request for comment.
Although China has recently banned cryptocurrency activities, as Chinese miners and investors move to friendly jurisdictions, the Bitcoin mining business is on the path to a full recovery.
Cointelegraph reported that since the end of July, Bitcoin’s hash rate difficulty has increased by 39%.In addition, the Chinese media Wu Blockchain Point out The difficulty of Bitcoin increased by 4.71% at block height 703,584 on October 5th, which is the sixth consecutive increase since July 31st.