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Bitmain stops shipments of crypto-mining equipment to China

Bitmain stops shipments of crypto-mining equipment to China

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Answer Bitmain stops shipments of crypto-mining equipment to China

In a sign of its commitment to comply with law and regulations in the jurisdictions in which its subsidiaries operate, mining equipment producer Bitmain announced that it will end deliveries to the People’s Republic of China.

And what was stated in the statement of “Bitmain” company yesterday, Sunday:

As of October 11, 2021, we will stop shipping Antminer devices to China.

The company indicated that for customers in China who have purchased long-term products, our staff will contact them to provide alternative solutions.

She did not disclose more details about the upcoming arrangements.

Bitmain confirmed that the decision is related to the Chinese market and not to the Special Administrative Region of Hong Kong and neighboring Taiwan.

Read:Coinbase announces the inclusion of a number of DeFi currencies on its platform

Beijing-based Bitmain also indicated that the change in its shipping policy will not affect customers in other overseas markets.

The mining hardware manufacturer stated that in the current situation with the Corona pandemic, the supply chain team is working hard to ensure delivery to customers all over the world.

Bitmain also revealed that it will take steps in response to the Chinese government’s carbon emissions policy.

The company stressed that it is exploring a new technology path to save computer power and will continue to work to reduce the power consumption of its core segments, direct customers to use clean energy, and strongly contribute to the green and sustainable development of mankind.

China imposed a ban on cryptocurrency trading in 2017, but the authorities did not directly intervene in crypto mining until earlier this year.

In May, the State Council and Cabinet announced a crackdown on crypto-related activities after President Xi Jinping pledged that the country would achieve carbon neutrality in the next four decades.

In September, the People’s Bank of China reiterated its tough stance on cryptocurrencies, stating that decentralized digital money has no place in the country.

Read:Bitcoin is now more valuable than the Russian ruble…details here

This week, China’s National Development and Reform Commission and the Ministry of Commerce proposed adding mining activity to the country’s latest negative list, a move that would make the cryptocurrency mining industry off-limits to investors.

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