Bitmain, a Chinese manufacturer of cryptocurrency mining equipment, was forced to cease operations in China following the crypto ban imposed by local authorities on October 11th.
In addition to China’s blanket ban on crypto operations, the company has attributed the move to stop shipping Bitcoin (BTC) and cryptocurrency mining rigs in response to China’s climate-neutral policies. According to Bitmain’s announcement:
“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 offer alternative solutions. “
While the company has yet to disclose its plan to help existing customers in China, Bitmain will continue to deliver Antminer crypto mining rigs to users around the world, including those in Taiwan and Hong Kong.
To counter the temporary slowdown in the Chinese market, Bitmain has increased its mobile mining container production capacity – Antbox. In November, the company will host the 2021 World Digital Mining Summit in Dubai, where it will discuss green energy mining opportunities, “mostly from clean-energy projects in Yunnan, Xinjiang,” and other Chinese provinces.
Bitmain did not immediately respond to Cointelegraph’s request for comment.
Related: Hash rate and difficulty recovery show that the miners have recovered from the China exodus
Despite China’s recent ban on crypto activities, bitcoin mining operations are on the way to full recovery as Chinese miners and investors move to friendly jurisdictions.
Cointelegraph reported that Bitcoin’s hash rate difficulty has increased 39% since the end of July. Additionally, Chinese media company Wu Blockchain pointed out that Bitcoin’s difficulty increased by 4.71% on October 5th at block height 703,584, marking the sixth consecutive increase since July 31st.