Latest News

Bitmain To Halt Shipping Crypto Mining Equipment To China

Mining hardware manufacturer Bitmain will stop sending its products to mainland china. Additionally, This is a decision in the direction go China’s regulations. will no longer ship its products to mainland China. Of course, This is coming after the China’s crackdown on crypto mining operations in the country. Which gives rise to halting all crypto activities in the county.

Bitmain No Longer Sending Mining Rig To Mainland China

So, Bitmain goes on ahead to stop deliveries to the People’s Republic of China. Also, this is according to a statement published by Bitman On Sunday.

“From October 11, 2021, Antminer will stop shipping to mainland China.”

Furthermore, bitman notes that
“for customers in mainland China who have purchased long-term products, our staff will contact them to provide alternative solutions.”

However, there’s no further details concerning the arrangements. It did not share further details about the arrangements. Meanwhile, Bitmain highlights that the special administrative region of Hong Kong and neighboring Taiwan is not concerned with China’s ban.

Notably, this recent adoption by Bitmain will not affect its customers in other marketplaces.

More so, Bitmain reveals it’s moving in response to China’s government policy of carbon-neutrality. Meanwhile, its on the lookout for a new technological path for computer energy saving. So, it will continue to work to cut down the energy consumption of its core chips,
“guide customers to use clean energy, and contribute our strength…”
“to the green and sustainable development of mankind.”

China’s ban on cryptocurrency is in effect since 2017without interference with cryptocurrency mining except earlier this year. The crackdown on crypto activities comes from President Xi Jinping’s commitment on achieving a carbon free state in four decades.

Lastly, in September, the People’s Bank of China explains that decentralized digital money will not no space in the country. Also, This week, crypto mining is included in the country’s latest “Negative List for Market Access,”. This is through China’s National Development and Reform Commission and the Ministry of Commerce. Conclusively, this will mean an off-limit grounds for investors.

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.