Bitmain, a global manufacturer of bitcoin mining machines, has confirmed that starting October 11 it would halt all shipments of its “Antminers” to mainland China. The firm said it would advise longstanding customers in mainland China on how they can purchase their mining equipment elsewhere.
According to the announcement, in response to the Chinese government’s carbon neutrality policy, Bitmain has completed several batches of carbon index procurement, which mainly comes from clean energy power generation projects in Yunnan and Xinjiang. Bitmain will announce the use of these carbon emission targets in the future.
On the same day, digital asset service provider MEXC also announced that in response to the regulatory policy requirements, the registration of users in the Chinese mainland has been suspended since September 28. Furthermore, the company plans retire users whose identity authentication is in Chinese mainland in an orderly manner before 24:00 on December 31, 2021, on the premise of ensuring the safety of users’ assets.
In September this year, the People’s Bank of China (PBoC) and ten other departments issued a notice to deal with the risk of speculation in virtual currency transactions. In response, many related enterprises have stopped serving the Chinese mainland, covering exchanges, financial service providers, mining pools, market inquiries and other enterprises.
The PBoC pointed out in a notice that virtual currency-related business activities are illegal financial practices. Financial institutions and non-bank payment institutions are banned from offering services for virtual-currency-related business activities. According to data gathered by reporters at Securities Daily, as of October 7, over 20 virtual currency-related enterprises have announced that they would stop providing related services to users in China and plan to completely withdraw from the Chinese market.