Categories: Market

Bitmain’s Antminer Suspended in China: The Future of Bitcoin Mining Uncertain

Bitmain, the largest manufacturer of Bitcoin mining equipment in China, has announced that it will stop shipping its flagship Antimer product to China in response to ongoing regulatory raids in the country.

Bitmain will stop shipping Antminers to China this October

Bitmain will stop shipping Antminers to China this October

According to the company’s announcement, the suspension of Antminer delivery will begin today – Monday October 11th, and will only affect customer demand in mainland China. Bitmain said Taiwan and Hong Kong will not be affected by the new decision. In order to better define the efforts of the federal government to reduce CO2 emissions, the company claims to have received indicators from clean energy to help monitor carbon consumption.

“Actively responding to local government guidelines towards business units has always been Bitmain’s business strategy.”the company said in its announcement, adding that “In response to the Chinese government’s carbon neutral policy, Bitmain has made a number of carbon index purchases. The indicators come mainly from clean energy power generation projects in Yunnan, Xinjiang and elsewhere in China. We will then announce the use of these CO2 emission targets. “

Important NOTE: All content on the website is for informational purposes only and does not constitute investment advice. Your money, the choice is yours.

Bitmain stops shipping Antminers to China as crypto mining energy demand is overtaken

Mining Bitcoin (BTC) and other proof-of-work (PoW) cryptocurrencies can be energy-intensive, and outside of China, this has largely caused regulators to take an unwelcome stance in the past. Welcome to the digital currency ecosystem.

However, things are starting to change as more and more miners start looking for a sustainable source of energy to power their operations. A big detour by the norm, El Salvador is exploring geothermal energy sources from the country’s rich volcanoes as the primary power generation option for its planned Bitcoin mining adventure. There are predictions that more miners will be involved in renewable energy options in the near future.

In addition to taking the move to stop selling machinery in the China region, Bitmain is also exploring innovative alternative energy-saving production models, a development that will benefit customers around the world.

“We will continue to work in the future to lower the energy efficiency quota of core chips, to buy CO2 emission indicators worldwide, to educate customers about clean energy and to contribute to the green and sustainable development of mankind”, said the company.

Follow the Youtube Channel | Subscribe to telegram channel | Follow the Facebook page

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.

Recent Posts

Dogecoin Price Gets $5 Prediction, Shiba Inu To Rally 1,100%, And ETFSwap (ETFS) To Jump 135x

Here are the latest predictions for Dogecoin, Shiba Inu, and ETFswap.

17 mins ago

AVAX Hits $1B in DeFi, Cardano Expected to Surge—BlockDAG Leads with $110M Presale & 100% Bonus!

Discover BlockDAG's 100% bonus and $110M presale surge that’s sparking interest among crypto enthusiasts. Also,…

17 mins ago

Crypto Institutional Investors Move To ETFSwap (ETFS) Amid $500 Million Liquidity Injection Expectations

Discover why crypto investors are moving to ETFSwap (ETFS) as $500 million liquidity injection is…

3 hours ago

Buyers Rush to Maximise Gains with BlockDAG’s 100% Bonus Offer; Plus, ETH Holds Strong as Solana Challenges Rivals

Learn about BlockDAG's $110M presale achievement and the whopping 100% bonus offer, alongside Ethereum's growth…

5 hours ago

Thai Police Corruption Case Involving Officers and Extortion

Thai police corruption exposed as officers extort millions in USDT from a Chinese man under…

8 hours ago

SafePal Telegram Wallet Launches with Swiss Bank Accounts and CeDeFi

SafePal Telegram Wallet allows 950 million users to create compliant crypto-friendly Swiss bank accounts, integrating…

9 hours ago

This website uses cookies.