Bitmain, a Chinese hardware maker for crypto-mining, has been forced to shut down its operations in China since October 11 due to a cryptocurrency ban imposed by local authorities.
In addition to directly banning China from cryptocurrency transactions, the company explained that the moratorium on Bitcoin (BTC) and cryptocurrency mining platforms is a response to China’s carbon emissions policy. According to Bitmain’s post:
“From October 11, 2021, Antminer will stop delivering to mainland China. Our staff will contact mainland Chinese customers who have purchased long-term products to suggest alternative solutions.”
Although the company has not yet revealed its plan to help existing customers in China, Bitmain will continue to provide Antminer crypto-mining hardware to users around the world, including Taiwan and Hong Kong.
To counteract the temporary downturn in the Chinese market, Bitmain has increased the production capacity of its mobile mining container – Antbox. In November, the company will host the 2021 Global Digital Mining Summit in Dubai to discuss green energy opportunities “mainly through clean energy projects in Yunnan and Xinjiang” and other provinces in China.
Bitmain did not immediately respond to a request for comment from Cointelegraph.
On the topic: Hash speed and difficulty levels show that miners have recovered from immigration from China.
Despite the recent Chinese ban on cryptocurrency activities, bitcoin mining is on the way to a full recovery as Chinese miners and investors move to friendly jurisdictions.
Cointelegraph reports that Bitcoin hashing difficulties have increased by 39% since the end of July. Moreover, Chinese media Wu Blockchain noted that Bitcoin’s difficulty on October 5 increased by 4.71% on the block’s rise of 703,584, which is the sixth consecutive increase since July 31.