Bitmain has stopped shipping Antminer mining rigs to Chinese and has further plans to identify opportunities for mining green energy from power generation projects in various provinces across the country. So let’s read more today in our latest crypto news.
The Chinese cryptocurrency mining equipment maker had to cease business in China following a cryptocurrency ban imposed by the local government. In addition to China’s ban on cryptocurrencies, the company suggested that the move to stop shipping BTC and crypto mining rigs is a response to China’s climate-neutral policies:
“As of October 11, 2021, Antminer will stop shipping to mainland China. For customers in mainland China who have long purchased products, our staff will contact them to offer alternative solutions. “
To counter the slowdown in the market, Bitmain has increased the production capacity of Antbox’s mobile mining containers as the company will also host the World Digital Mining Summit in Dubai, which will discuss solutions for harnessing green energy used in generation projects languages are rooted in various Chinese projects of clean energy. Provinces.
Despite the ban on crypto activities, the BTC mining operation is well on its way to recovering fully as miners and investors move to other crypto-friendly jurisdictions. Bitcoin’s hash rate difficulty has increased 39% in a year. Additionally, Chinese media company Wu Blockchain has shown that BTC difficulty has increased 4.71% at block height 703,584, marking the sixth consecutive increase since July 31.
As previously reported, ex-Bitmain CEO Jihan Wu, suggested that the current wave of regulatory interference in the crypto space could be a good thing in the long run. Speaking to CNBC during an Asia Tech X conference in Singapore, Wu noted that the sector has grown into a trillion dollar market cap industry, with more than 10% of US citizens participating in the new asset class. In those cases, he argued that including tighter regulation would be a net gain for the cryptocurrency in the long run.
DC Forecasts is a leader in many crypto news categories, always striving for the highest journalistic standards and adhering to strict editorial guidelines. If you would like to share your expertise or contribute to our news page, please contact us at [email protected]
.
.
Bybit Proof of Reserve reveals BTC holdings at 50,412 (-8.55%), ETH at 525,641 (+8.11%), and…
Key Points: Bitcoin Spot ETF Inflows totaled $449M, led by BlackRock’s $1.45B contribution. Ethereum Spot…
Discover the Best New Meme Coins to Join for 2025. BTFD Coin's price rollback offers…
Discover how DTX Exchange's historic achievement of 100,000 transactions per second on a layer-1 blockchain…
VanEck suggests the U.S. could reduce its national debt by 35% by 2050 through a…
President-elect Donald Trump named Bo Hines as the executive director of the presidential crypto council.
This website uses cookies.