Chinese crypto mine Stop or block operations due to Coronavirus outbreak

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Due to the Coronavirus outbreak in China, the government has taken a number of measures to keep the situation under control. Companies are affected throughout the country. With the existing quarantine check, people stay exactly where they are and cannot return to work.

A mining company in particular is forced to close during the epidemic. According to the Weibo moment post of CEO Jiang Zhuoer of BTC.top on February 4, all mining machines are forced to close in one of the mining companies that he owns in a remote area in China.

The company was informed by post from Zhuoer that it is currently not permitted to go back to work. He claims that the mining company’s personnel never stopped working and none of the maintenance personnel ever left this area before the quarantine check period.

Affordable electricity and resources in provincial areas such as Xinjiang, Inner Mongolia, Yunnan and Sichuan have contributed to China’s status as an important market for Bitcoin miners.

Bitmain and Canaan Creative are the major mining chip manufacturers in China, with Bitmain producing 66% of the mining hardware for cryptocurrency.

But due to the outbreak of the virus, companies such as Bitmain, Canaan and MicroBT have published messages on their websites about delays in their after-sales services until 10 February.

The halving of Bitcoin is less than 100 days away. Some cryptocommentators believe that this can cause serious price action. The coronavirus outbreak time period overlaps with the bitcoin halving. Mining companies are concerned that these two factors will have a greater impact on the maintenance of mining equipment and the delivery of new mining machines.

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Notes: 0Audience: 3143Registration: 11-07-2018

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