Bitmain stops shipping Bitcoin mining machines to mainland China

Bitmain stops shipping Bitcoin mining machines to mainland China

Bitmain – one of the world's largest manufacturers of Bitcoin mining machines – announced that it would no longer ship crypto mining rigs to addresses in mainland China. However, the company would continue to ship its products overseas.

The crypto ban has reached Bitmain

The Chinese crackdown on cryptocurrency mining and trading has also impacted Bitmain. The Beijing-based company announced on his WeChat account that it will stop shipping its Antminer crypto mining rigs to addresses in China starting October 11th. Nonetheless, Bitmain will continue to serve customers based in Hong Kong and Taiwan.

"Strictly complying with the laws and regulations of the locations of the Company's companies is the working principle that Bitmain has always adhered to. As of October 11, 2021, Antminer will stop shipping to Mainland China (except Hong Kong and Taiwan).

For customers in mainland China who have purchased long-term products, our staff will contact them to provide alternative solutions.”

The major mining producer added that the new policy will not impact customers in overseas markets. According to the announcement, Bitmain’s team is “working hard to ensure supply to customers around the world.” For this reason, the company has increased its production capacity for modular mining containers – Antbox.

Bitmain's decision to withdraw from the Chinese market seems logical given that local authorities conducted a major operation in Inner Mongolia last month confiscated 10,100 mining rigs. This was the 45th such seizure in this province, while Sichuan, Yunnan, Xinjiang and Qinghai had previously been targeted.

China's ban on crypto

During China hostile attitude towards crypto has been underway for nearly a decade, the country and its central bank went a step further this year by banning all local organizations from dealing with digital asset companies.

In addition to the immediate negative impact on market prices, the move also forced numerous companies to close their Chinese branches. The popular exchange Huobi was one of the first and KuCoin followed shortly thereafter.

A newer one Test report claimed that in the first two weeks alone after the latest Chinese ban, the number of companies forced to suspend their services to locals had exceeded 20.

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