Reuters
China’s Bitmain suspends sales of cryptomining machines after Beijing’s mining ban
SHANGHAI (Reuters) -Bitmain, China’s biggest maker of cryptocurrency mining machines, said it had suspended sales of its products in the spot market to help ease selling pressure following Beijing’s ban on bitcoin mining. Bitmain also said it is looking for “quality” power supplies overseas along with its clients, in places including the United States, Canada, Australia, Russia, Kazakhstan and Indonesia. China’s State Council, or cabinet, vowed to crack down on bitcoin trading and mining in late May, seeking to fend off financial risks.