Regulation impacts Bitcoin mining machine market, Bitmain suspends spot mining machine sales

The upstream supply of cryptocurrency mining is beginning to be affected by regulation.

On June 23, Bitmain told cryptocurrency miners that due to the recent influx of a large number of second-hand machines into the market, in order to ease customers' shipping pressure, it would temporarily suspend the sale of spot machines.

A Bitmain insider told Jiemian News: “This is the general direction, but we have not received any notification on the specific sales details.”

At the same time, there are reports that Bitmain has announced a full overseas transfer, especially some mid- and senior-level employees are moving overseas. Bitmain said it is not convenient to disclose the information for the time being.

Bitmain is currently one of the world's largest Bitcoin mining machine manufacturers, and has also made a lot of investments in the AI ​​field in recent years. At an industry exchange meeting held in Chengdu on June 19, Bitmain released its new product, but it was not a professional Bitcoin mining machine. At the meeting, Bitmain also put up a slogan of "holding together for warmth, rejecting vicious competition." Miners attending the meeting revealed that overseas mining business became the main topic of this exchange meeting.

Why did Bitmain suspend the sale of spot mining machines? The fundamental reason is that it was impacted by domestic regulation.

As Inner Mongolia, Xinjiang, Sichuan, Qinghai, Yunnan and other places began to stop Bitcoin mining and clear out various mining farms, except for a part of the mining machines transferred to Central Asia and overseas, a large number of cleared mining machines were forced to shut down and flowed into the second-hand mining machine market, directly impacting the original mining machine market.

After the regulatory policy was implemented, Jiemian News reporters learned that many miners have started selling mining machines. Some mining companies have begun to clear out customers' mining machines and sell off related mining machines.

Taking the recent quotes from mining machine sales staff as an example, the price of a mining machine in Bitmain's Antminer S19 series was 40,000 yuan on June 15, and the price had dropped to 30,000 yuan on June 23. According to miners, the current market price is at a low point amid panic, with no demand and few people willing to take over.