Biggest Mining Gear Maker Halts Sales Amid China Crypto Crackdown


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Comments (4) (Image credit: Shutterstock) Bitcoin miners could be stuck with used rigs for a while. Bloomberg today reported that Bitmain indefinitely halted most of its sales after Chinese mining operations started dumping their equipment because they're being forced to shut down . Bitmain makes cryptocurrency mining equipment based on application-specific integrated circuits (ASICs) designed specifically for that purpose. The company is best known for Bitcoin and Ethereum-related tools, but it supports other coins, too. The crypto market's struggles appear to have directly affected Bitmain's financials. Bloomberg reported that the price of the company's "top-tier rigs plunged by about 75%...