Bitmain, one of the largest manufacturers of crypto mining equipment, plans to stop selling its devices to Chinese miners, CoinDesk has reported citing sources.
According to them, the company will also move most of its production from the city of Shenzhen, located near Hong Kong, to other countries.
The company's vice president, Kevin Zhang, has said Malaysia and Indonesia are among the options being considered by the company to relocate its production.
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The Chinese authorities toughened their stance toward cryptos in late September. The People's Bank of China, the country's central bank, labeled as illegal the activities of platforms related to the exchange of digital currencies with each other or for fiat money. The National Development and Reform Commission of the People's Republic of China has introduced anti-mining as an indicator of the effectiveness of regional authorities.
Starting next October 8, online retail giant Alibaba will ban mining hardware on its platform. The company has also referred to the decisions of PRC regulators and supervisory authorities.