A mining farm is being shut down in China due to the coronavirus outbreak.
Due to the Coronavirus outbreak in China, the government has taken a series of measurements to keep the situation under control. Businesses are being affected across the nation. With the existing quarantine control, people are staying right at where they are and not be able to return to their work.
A mining farm, in particular, is being forced to shut down during the epidemic. According to BTC.top CEO Jiang Zhuoer’s Weibo moment post on Feb. 4, all the mining machines have been forced to shut down in one of the mining farms he owns in a remote region in China.
Per Zhuoer’s post, the firm has been told that it’s not allowed to return to work at the moment. He claims that personnel at the mining farm have never stopped working and none of the maintenance staff has ever left this area before the quarantine control period.
Meanwhile, Bitcoin mining machine companies in China are delaying after-sale services
Affordable electricity and resources in provincial areas such as Xinjiang, Inner Mongolia, Yunnan and Sichuan have contributed to China’s status as a major market for Bitcoin miners.
Bitmain and Canaan Creative are the main mining chip manufacturers in China, with Bitmain producing 66% of the world’s cryptocurrency mining hardware.
Yet due to the outbreak of the virus, companies such as Bitmain, Canaan and MicroBT have published notices on their websites of delays in their after-sale services until Feb 10.
Bitcoin’s halving is less than 100 days away. Some crypto commentators believe this could trigger some serious price action. The coronavirus outbreak timespan overlaps with bitcoin’s halving event. Mining companies worry that these two factors are going to have a stronger impact on the maintenance of mining equipment and delivery of new mining machines.
Source: , CoinTelegraph
Articles listed with Cash Tech News as the author are either general information, or may have been imported from another website, to bring our readers a rich media experience that encompasses articles that we find interesting, as well as those curated by others.
The views and opinions expressed here are for informational purposes only, and should not be confused with professional financial advice. These opinions are solely those of the author and do not necessarily reflect the views of CashTechNews.com. Every investment and trade involves risk. You should conduct your own research, and contact your professional financial advisor before making any investment.
Corrections, feedback, and ideas should be submitted through the website contact form.