The Chinese company has stopped the sale of cryptocurrency mining devices. Bitmain, which produces China's largest cryptocurrency mining machines, has suspended the sale of its products.
Bitmain, China's largest maker of cryptocurrency mining machines, has announced that it is suspending the sale of its products to help ease selling pressure following the Chinese government's bitcoin mining ban. Bitmain also said it is looking for "quality" power supplies in countries such as the US, Canada, Australia, Russia, Kazakhstan and Indonesia.
PROHIBITION STOPPED SALES
China's State Council decided to end bitcoin trading and mining altogether in late May, in an effort to mitigate financial risks. After the ban, many Chinese cryptocurrency makers started selling machines and quit business. “We have suspended the sale of our Antminer machines globally in order to contribute to the smooth transformation of the industry,” the company said in a statement.
“WE ARE LOOKING FOR CHEAP ELECTRICITY”
Bitmain stated in its statement that it is looking for cheap electricity and this search includes countries such as Belarus, Sweden, Norway, Angola and Congo. Bitmain is known as one of the most profitable cryptocurrency mining devices.
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