Considered the largest manufacturer of mining equipment in Bitcoin, Bitmain announced last Sunday (10) that it will no longer sell its products to those residing in China.

The company says that what motivated it to give up operating in the Chinese market was the government's repression against the Chinese industry. criptomoedas — at the end of September China decided to ban any financial activity related to digital assets.

ASIC mining equipment
Example of a set of mining equipment (ASIC). Image: Artie Medvedev/Shutterstock

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“From October 11, 2021, we will stop shipping to mainland China, except for Hong Kong and Taiwan,” the company said in a statement.

While the announcement is negative, the impact on Bitmain's cash may not be as significant as large mining farms also decided to leave China in May, the month the government began cracking down on cryptoactives.

Since the end of 2020, many of them decided to migrate to North America, especially to the US and Canada, which intensified the purchase of ASIC-type devices (high-performance machines designed to extract bitcoins) manufactured by the company.

Street: Bitcoin Portal

American company to create mining machine

Cryptocurrency mining too aroused interest of an American company in the transport sector, Sino-Global Shipping America. The company, which operates by supplying cargo on large vessels, last week announced a multimillion-dollar partnership with HighSharp, a blockchain company.

With an initial investment of around US$ 10 million (R$ 55 million), the joint venture's goal will be to develop the 'Thor Bitcoin Mining Machine', a mining machine geared towards bitcoins.

Main Image Credits: eamesBot/Shutterstock

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