Bitmain suspends shipment of Antminer in China - OhNo WTF Crypto

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Bitmain suspends shipment of Antminer in China


Major global Bitcoin mining equipment maker Bitmain has confirmed the halting of its business in Mainland China amid the nationwide crypto ban in the country. The company will ban the shipment of Antminer, Bitmain’s Bitcoin mining equipment, from October 11, 2021, according to the company’s announcement yesterday.

“From 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 provide alternative solutions.”

While the news was confirmed on the 10th, Coindesk reported in late September that Bitmain might shut down its operations in China, citing three anonymous sources.

Bitmain has not confirmed how it would help customers with long-term equipment, but it would continue to sell equipment in other countries including Taiwan and Hong Kong.

The Chinese market accounted for 50% of Bitmain’s sales in 2017 and 40% in 2018. While its sale was declining in the domestic market since last year, the rise of North American miners may not impact the company severely.

The post Bitmain suspends shipment of Antminer in China appeared first on Our Bitcoin News.

OhNoCryptocurrency via @Gauri Bhatia, @Khareem Sudlow