Mining equipment maker Bitmain will no longer ship its products to mainland China. The move responds to local regulations, the company explained. The announcement follows a prolonged crackdown on crypto mining operations in the country and a recently reiterated broad ban on cryptocurrency-related activities.
Bitmain stops shipments of mining rigs in mainland China
Referring to its commitment to comply with the law and regulations in the jurisdictions where its entities operate, mining equipment producer Bitmain has announced that it is ending deliveries to the People’s Republic of China. In a statement released on Sunday, Bitmain said:
As of October 11, 2021, Antminer will stop shipping to mainland China.
The company noted that “for customers in Mainland China who have purchased long-term products, our staff will contact them to offer alternative solutions.” He did not share further details on the arrangements. Bitmain stressed that the decision for the Chinese market does not concern the special administrative region of Hong Kong and neighboring Taiwan.
Beijing-based Bitmain also stressed that the change in its shipping policy will not affect customers in other overseas markets. The computer hardware maker said that in the current situation with the Covid-19 pandemic, its supply chain team is working hard to ensure deliveries to customers around the world.
Bitmain also revealed that it is taking action in response to the Chinese government’s carbon neutrality policy. He stressed that he was exploring a new technological path for IT energy saving and that he would continue to work to reduce the power consumption of his core chips, “guiding customers to use clean energy and contributing our strength in the green and sustainable development of humanity “.
China introduced a crypto trading ban in 2017, but authorities did not directly interfere with cryptocurrency mining until early this year. In May, the State Council, the cabinet of ministers, announced a crackdown on crypto-related activities following President Xi Jinping’s pledge that the country will achieve carbon neutrality within the next four decades.
In September, the People’s Bank of China reiterated its tough stance on cryptocurrencies, making it clear that decentralized digital currency has no place in the country. This week, China’s National Development and Reform Commission and the Commerce Ministry proposed adding crypto mining to the country’s latest “negative market access list”, a decision that will make the industry prohibited for investors.
Do you think China’s policies regarding cryptocurrency mining may change as mining equipment becomes more energy efficient?
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