The ban on mining in China will not affect the activities of Bitmain and Canaan

The prospect of a ban on mining in China will not have an impact on the operating activities of mining giants Bitmain and Canaan in the short term. This was stated by representatives of the press services of companies, writes 8btc .

At the same time, Bitmain and Canaan did not indicate whether they intend to move the business abroad, if the mining ban is set at the legislative level.

Note that China currently holds a dominant position in mining Bitcoin and Ethereum.

According to local cryptoexperts, mining equipment manufacturers will exist as long as Bitcoin has value.

Recall earlier in April, the National Development and Reform Commission of China issued a bill that called mining an “undesirable industry” and proposed banning it .

So far, the initiative has no legal force. Public discussion of the bill will last until May 7.

Earlier, in the light of similar proposals from the authorities, the Chinese miners considered the possibility of transferring their capacities to the territory of Russia .

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