Bitmain stops shipment of Antminer crypto mining rigs into China

Published at: Oct. 10, 2021

Bitmain, a Chinese manufacturer of cryptocurrency mining equipment, has been forced to stop its business in China from Oct. 11 following the crypto ban imposed by local authorities.

In addition to China’s blanket ban on crypto operations, the company has attributed the move to stop shipping Bitcoin (BTC) and cryptocurrency mining rigs as a response to China’s carbon-neutral 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 company has yet to reveal its plan to help existing customers in China, Bitmain will continue to supply Antminer crypto mining rigs to users across the world including those in Taiwan and Hong Kong.

To counter the temporary slowdown in the Chinese market, Bitmain has increased its production capacity for mobile mining containers — Antbox. In November, the company will host World Digital Mining Summit 2021 in Dubai, where it will discuss green energy mining opportunities “mainly derived from clean energy power generation projects in Yunnan, Xinjiang” and other Chinese provinces.

Bitmain did not immediately respond to Cointelegraph's request for comment.

Related: Hash rate and difficulty rebound shows miners have recovered from China exodus

Despite China’s recent ban on crypto activities, Bitcoin mining operations are on the path to full recovery as Chinese miners and investors move to friendly jurisdictions.

Cointelegraph reported that Bitcoin’s hash rate difficulty has increased 39% since late July. Moreover, Chinese media outlet Wu Blockchain pointed out that Bitcoin’s difficulty increased by 4.71% at block height 703,584 on Oct. 5, marking the sixth consecutive increase since July 31.

Tags
Bitcoin
Regulation
Altcoin
Hong Kong
China
Cryptocurrencies
Mining
Bitcoin Mining
Taiwan
Bitmain
Related Posts
Huobi outlines plan for Chinese investors after halting crypto trading
The uncertainties sparked by China’s blanket ban on crypto trading have taken a downturn as homegrown crypto exchanges such as Huobi take proactive measures to protect and return existing investments residing on the mainland. Speaking to Cointelegraph in this regard, Du Jun, co-founder of Huobi Group, said that the crypto exchange wants to ensure the safety of the users’ assets as part of its social responsibility: “Customers will be able to transfer their assets to other exchanges or wallets over the next few months. Specific measures and operating rules will be outlined in future announcements.” Citing a possibility of a …
Bitcoin / Sept. 27, 2021
Report: Bitmain Plans to Set Up 200,000 Crypto Mining Machines in China
Cryptocurrency mining giant Bitmain is reportedly planning to set up 200,000 units of mining equipment in China to benefit from low-cost hydroelectric power in the country, crypto media outlet CoinDesk reported on March 21. A source from China familiar with the matter reportedly told CoinDesk that Bitmain will install 200,000 units of their own mining machines to take advantage of cheap hydroelectric power costs during the summer following the excessive rains in southwestern China. The mining equipment is estimated at around $80 million to $100 million. The crypto mining giant has reportedly entered into negotiations and started making deals with …
Bitcoin / March 21, 2019
Kosovar government halts crypto mining amid power crisis
The government of Kosovo has ceased crypto mining in the country owing to power constraints during the winter season. Kosovo's minister of Economy, Artane Rizvanolli, has decided to stop crypto mining following a recommendation from the Technical Committee on "Emergency Measures for Energy Supply," according to a report by local outlet Gazeta Express. The report notes that the government made the decision after Kosovo's power supply fell below the stipulated level, and it began to impose electricity cuts during peak usage periods. According to Rizvanolli, the government decided to establish a technical committee to evaluate emergency energy supply strategies in …
Bitcoin / Jan. 4, 2022
OTC crypto shops flood Hong Kong, but regulations may impact their presence
Hong Kong, one of the most significant and leading financial centers in the world, has played a large role in the development of cryptocurrencies. For instance, the Chinese territory has birthed some of the most established and successful crypto companies to date including the crypto derivatives exchange FTX, along with the digital asset platform Crypto.com. Yet, as trillions of dollars are traded regularly through crypto exchanges founded in Hong Kong, the “Vertical City” also contains an abundance of physical over-the-counter crypto shops as well. Henri Arslanian, PwC crypto lead and former chairman of the Fintech Association of Hong Kong, told …
Bitcoin / Oct. 24, 2021
Nuclear and gas fastest growing energy sources for Bitcoin mining: Data
The electricity mix of Bitcoin (BTC) has drastically changed over the past few years, with nuclear energy and natural gas becoming the fastest growing energy sources powering Bitcoin mining, according to new data. The Cambridge Centre for Alternative Finance (CCAF) on Tuesday released a major update to its Bitcoin mining-dedicated data source, the Cambridge Bitcoin Electricity Consumption Index (CBECI). According to the data from Cambridge, fossil fuels like coal and natural gas made up almost two-thirds of Bitcoin’s total electricity mix as of January 2022, accounting for more than 62%. As such, the share of sustainable energy sources in the …
Bitcoin / Sept. 27, 2022