Currency Economy

Bitcoin miners begin to feel the heat as crypto miner BitDeer blocks China users

Cryptocurrency36 minutes ago (May 28, 2021 09:00AM ET)Bitcoin miners begin to feel the heat as crypto miner BitDeer blocks China users© Reuters Bitcoin miners begin to feel the heat as crypto miner BitDeer blocks China users

As Chinese regulators move to crackdown on Bitcoin mining, the country’s BTC miners are beginning to feel the heat. BitDeer, one of China’s largest crypto mining operators, has moved to block IP addresses from mainland China from accessing its platform.

The company in an official statement on its website on Wednesday, announced that it will “block all access to users with mainland Chinese IP addresses, starting from May 26 at 10 p.m. Beijing time.” According to BitDeer Group, the move is in order to “cooperate with the regulatory requirements in related countries and regions, and support compliance in the mining industry.”

BitDeer is not the only crypto company that is slowly pulling out from mainland China. On Monday, BTC.top, another behemoth mining pool in China, announced that it would no longer offer its services to Chinese users. Meanwhile, Mcoulds and BitFuFu, which are affiliated with Bitmain and OKEx, respectively, have also suspended some or all of their services to China-based users.

As reported by BTC PEERS, China-based Bitcoin miners are already perfecting plans to sell their mining rigs or relocate their operations amid regulatory uncertainties.

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