Bitmain will stop selling its devices in China
Chinese media announced that Bitmain, one of the largest miner manufacturers on the market headquartered in Beijing, will stop selling its products in China.
The end of September was marked by not the most pleasant news, both for the Chinese representatives of the crypto industry and for the entire industry as a whole. To the previously imposed ban on mining, the authorities "added" a ban on trading cryptocurrencies in the country. This became a knockout even for large companies, after which some of them decided to move out of the country. At the same time, others have completely closed their divisions located in the largest cities of the PRC.
Bitmain appears intent on joining the rest of the crypto refugees by moving most of its own production from Shenzhen to other countries. According to Kevin Zhang, vice president of the Foundry mining pool, the company's management is considering Indonesia or Malaysia as a place of relocation.
Based on information received from several sources, they did not have the right to discuss Bitmain's plans publicly, so they chose to remain anonymous. One of them stated that he is closely associated with the purchase of rigs for large mining pools, and the other cooperates with many local miners who shared this news with him.
In addition to mining companies, large-scale pools are also winding down their activities in China. So, the largest Ethereum pool SparkPool has already announced the termination of work in China and beyond, and today the fourth largest Ethereum pool, Beepool, has joined it. In its notice of closure, Beepool management cited the government's tightening of regulations for the industry. Access to registering new users and adding accounts by existing clients has been closed, and all servers will shut down on October 15, 2021.
Recall that earlier in the country, users were denied access to resources with monitoring of the cryptocurrency market, such as CoinGecko, CoinMarketCap, TradingView, and others. Most of the popular bloggers covering events in the crypto industry have also faced the block.
Hive OS is a one-stop solution for control, monitoring, administration of your mining farms and mining pool.
CoinShark is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. This article is for informational purposes, prepared on the basis of materials and information from open sources. Cryptocurrency is a risky asset, investments in it can lead to losses. Users should do their own research before taking any action.