Semiconductor design firm Bitmain suspends Antminers sales in mainland China

MediaIntel.Asia

Multinational semiconductor company Bitmain Technology Holding announced that as of October 11, 2021, Bitmain’s Antminer will stop shipping to mainland China to comply with a series of local bans on strict crackdowns on cryptocurrencies. Previously, China stepped up law enforcement against domestic Bitcoin mining activities. Bitmain has decided to stop the sales of its encrypted mining equipment under careful consideration and to reduce the supply of mining machines on the market. In response to the Chinese government’s carbon neutral policy, Bitmain stated that it has completed the carbon metric acquisition projects for clean energy generation in Yunnan, Xinjiang and elsewhere in China. The specific use will be developed at the World Digital Mining Summit 2021 “held by Bitmain in Dubai. According to the official announcement, Bitmain Technology Holding stated: “As of October 11, 2021, Antminer will stop shipping to mainland China (excluding Hong Kong and Taiwan).” The company stated that it will actively contact mainland Chinese clients who have signed forward contracts to find an alternative that is satisfactory for both parties. The forced suspension of business in China this time will not affect the delivery process of foreign customers. Bitmain’s supply chain team is working hard to secure supply for global customers and increase supply for Antbox, a mobile crypto mining farm, also known as Deerbox, is the first of its kind, a mobile mining farm. plug-and-play with low power consumption and at the same time practical to accelerate the construction of mines abroad. In July, the hashrate, which is used to measure the processing power of the BTC network, plummeted by 50% amid the intensification of the crackdown on crypto mining by Chinese authorities. Image Source: Shutterstock

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