Media: Bitmain cuts Antminer prices amid Chinese mining criticism

The ASIC equipment maker Bitmain cut the price of Antminer devices by 20% amid the drop in Bitcoin’s price and criticism of mining by Chinese authorities. According to journalist Colin Wu.

Exclusive: Affected by recent regulatory policies of China and Bitcoin prices, Bitmain’s Antminer has cut prices by about 20%, and some Chinese customers have requested refunds. pic.twitter.com/OSf8OHjbvz

— Wu Blockchain (@WuBlockchain) June 7, 2021

According to Wu, some Bitmain customers demanded refunds of the down payment. The company reportedly rejected such requests, offering 4% per annum on advance payments and the possibility to purchase other products in the future.

Wu believes that Chinese regulators this time have little influence on ASIC manufacturers. According to Antpool, the current ‘shutdown price’ of the Antminer S19Pro is only $102.96. Wu also noted that the Bitcoin network’s hash rate is growing slowly, and Bitmain’s main customers are abroad.

Earlier Wu said that Bitmain takes a down payment of 20% of the order value, the minimum size of which is 1,000 units. The flagship Antminer S19Pro provides a hash rate of 110 TH/s, and its price is $10,230.

In an interview with Portal do Bitcoin, the journalist stressed that government-imposed restrictions would affect only the sector’s large players. According to him, miners are panicking and seeking hosting in other countries, such as the United States and Canada.

On June 2, Sichuan province authorities held a seminar on the use of surplus hydroelectric power . According to TechNode, citing sources, following the meeting mining companies were allowed to stay in the region until the end of the rainy season, which usually lasts until October.

Nangeng Zhang, CEO of Canaan Creative, said that mining cryptocurrencies with fossil fuels hinders China’s ecological efforts, but ‘green’ miners should not face repression.