China has been cracking down on its biggest tech companies for the past year after largely giving them free rein to grow, after it planned setting up a “coordination mechanism” with state agencies to continue battling crypto.
Bitmain, a Chinese manufacturer and the world’s leading producer of cryptocurrency mining hardware, has stop its business in China from today, Oct. 11 following the crypto ban imposed by local authorities.The company has attributed the move to stop shipping cryptocurrency mining rigs in response to China’s carbon-neutral policies.
However, Bitmain is still in operation and is to continue supplying Antminer crypto mining rigs to users across the world including Hong Kong. It has also increased its production capacity for mobile mining containers — Antbox and will continue to supply Antminer crypto mining rigs to users outside China.
Also, the company is to hold the World Digital Mining Summit 2021 (WDMS) in Dubai on November 09-10, which will reveal the latest all-in-one mining container solution and Antminer products and showcase dozens of speeches and engaging panel discussions regarding the development of green energy mining, mining globalization, data center construction, mining operations enhancement, global policies and regulations, and more.
This repression on crypto activities and operators, also caused cryptocurrency miners to move to neighbouring countries.