News World's Largest Maker of Cryptomining Gear Halts Sales Amid China Crackdown

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Titan
Moderator
With Bitmain not shipping product until several months after they should be ready presumably due to extensive "in-house testing" (aka: mining for themselves), I wouldn't be surprised if the sales pause was to cash in on the network hash rate dip at a time of depressed market demand and prices.
 

InvalidError

Titan
Moderator
Is there a quantification of 'most' with regards to China's % of worldwide crypto mining?
At its peak, it was estimated that 75% of all crypto was being mined in China.

Since the CCP makes it nearly impossible to take money out of China, I can see why wealthy Chinese people would be interested in converting their wealth to crypto so they can cash it out elsewhere, same for people who just want to GTFO from China and bring what wealth they could manage to convert into crypto along.
 

Math Geek

Titan
Ambassador
i have 100% confidence the chinese gov will still mine at will, they just want the regular people to stop so they can keep their stranglehold on the money supply there.

i don't expect the overall hash rate to dip that much really for very long.
 

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