Bitcoin mining equipment manufacturer Bitmain announced that it will stop providing its services in China, prioritizing overseas business instead.
In an announcement published today October 11, 2021, in the Bitmain WeChat account, the manufacturer stated that it would stop distributing its mining hardware to addresses in China, but it will exclude Hong Kong and Taiwan, countries that are claimed as national territory by China, from this measure.
“For those customers in mainland China, who have purchased products to receive soon, our staff will contact them to provide alternatives,” they say.
The firm notes that in the context of the coronavirus pandemic, and supply chain delays, they will continue to work to serve customers around the world.
At other points in the announcement, they note that they have been increasing the efficiency in energy consumption of its microprocessors and other components. They also claim that they increased the production of Antbox, a container designed to operate and transport multiple ASIC equipment more easily.
With this announcement, Bitmain ends much of its business in China, a country that until this year centralized mining operations in its geographical space, but that as a result of multiple prohibitions and vetoes from the State, has caused companies, users and investors of Bitcoin and its mining to flee to other latitudes.
Bitmain adjusts to the circumstances of the mining industry
Bitmain, located in Beijing, China, is one of the oldest companies in the Bitcoin ecosystem, being founded in 2013. They are responsible for manufacturing one of the most widely used Bitcoin mining hardware lines in the world, Antminer. They recently announced that they will increase the prices of these equipment by 20%, CriptoNoticias reported.
Too, Bitmain operates the Antpool mining pool, but decided to put it up for sale in July of this year. The sale or transfer of the company has not yet been finalized, nor have the pool’s operations ceased.
Antpool It currently encompasses 14.5% of the processing power connected to the Bitcoin network, ranking third among the top 15 Bitcoin mining pools, according to BTC.com.
This morning, the local magazine Caijing He cited sources from the central bank of China, where this entity claims to be studying how to better enforce anti-Bitcoin laws and apply the respective penalties, depending on the case.
Meanwhile, the mining industry has completed important businesses that consolidate it around the world, while increasing the hash rate or hash rate at the service of the network, we reported in Noti Hash, the Bitcoin mining newsletter of CriptoNoticias.