Bitmain stops shipping crypto mining equipment to China
Bitmain, the maker of bitcoin mining hardware, has announced that it will no longer offer machines to addresses in mainland China, effective immediately.
Bitmain wants to follow local regulations
The company said it will follow local regulations and suspend domestic shipments starting Monday, but overseas business will continue as usual. Bitmain's move is not expected to have a major impact on the company, as domestic sales have been declining since late last year due to a surge in mining activity in North America.This is because Bitmain will continue to provide Antminer crypto mining rigs to other countries. Most notably, Bitmain will continue to deliver to Hong Kong and Taiwan.
The company is focussing on green energy mining
In November, the company will host the World Digital Mining Summit 2021 in Dubai. There, it will discuss green energy mining opportunities. These mainly come from clean energy projects in Yunnan, Xinjiang" and other Chinese provinces.Despite China's recent ban on crypto activity, the Bitcoin network has almost fully recovered. This is partly because Chinese miners and investors have migrated en masse to other countries, but mining at home in China using graphics processing units (GPUs) has also been very active.
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