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Effects Of China Bitcoin Mining Crackdown

Effects Of China Bitcoin Mining Crackdown



Bitmain Technologies, the world’s largest manufacturer of bitcoin mining rigs, is halting global spot sales of its machines to aid the secondhand market for rigs in China, according to Bloomberg.

Today, Bitmain told the local mining community that the company’s decision is a product of the recent price plunges of new mining equipment. Since April, top-tier bitcoin mining rigs in China have been priced down by 75%, fueled by Chinese miners going offline after the country’s recent crackdown on bitcoin.





bitcoinmagazine.com/

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