Bitmain, a Chinese manufacturer of cryptocurrency mining equipment, has been forced to stop its business in China as of October 11 following the cryptocurrency ban imposed by local authorities.
In addition to China’s blanket ban on crypto operations, the company has attributed the decision to stop sending Bitcoin (BTC) and cryptocurrency mining rigs in response to China’s carbon neutral policies. According to Bitmain ad:
“As of 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 around the world, including those in Taiwan and Hong Kong.
To counteract the temporary slowdown in the Chinese market, Bitmain has increased its production capacity of mobile containers for mining: Antbox. In November, the company will host the 2021 Digital Mining World Summit in Dubai, where it will discuss green energy mining opportunities “derived primarily from clean power generation projects in Yunnan, Xinjiang” and other Chinese provinces.
Bitmain did not immediately respond to Cointelegraph’s request for comment.
Despite the recent ban on China’s crypto activities, Bitcoin mining operations are on the path of full recovery as Chinese miners and investors relocate to friendly jurisdictions.
Cointelegraph reported that Bitcoin’s hash rate difficulty has increased 39% since the end of July. Also, the Chinese media outlet Wu Blockchain he pointed that Bitcoin’s difficulty increased by 4.71% to the height of block 703,584 on October 5, marking the sixth consecutive increase since July 31.