Bitmain Stops Sales of Mining Machines in Bid to Buoy Prices Facing China’s Crac

[Tanimariya]

Delaying further sales could be seen as a way for Bitmain to shield both itself and its clients from falling prices of mining rigs. Bitmain has decided to hit the brakes on sales of its crypto mining rigs in a bid to shore up prices adversely affected by the outcome of China’s actions against local miners.

According to a report by Bloomberg on Wednesday, the Beijing mining giant’s decision comes as top-tier rigs have shed their value by about 75% since April.

Delaying further sales could be seen as a way for Bitmain to shield both itself and mining clients from falling prices. Source Link