Bitmain is the manufacturer of crypto mining equipment and provides anything that the miners require in a fair assessment at the market rates. However, the latest calamity that has hit the mining world in the form of China’s imposition of new bans and severe crackdown against the cryptocurrency has left many Chinese-based miners in peril. They don’t know what to do and operating in a miner capacity; some of them can’t set plans into motion for the sake of shipping all of their mining equipment to a new country such as the US and begin mining as nothing has happened. This sadly doesn’t seem to be the case for most of them.
Chinese Second-Hand Sellers are Literally Resurrected by the Kind Gesture of Bitmain
That is why the only option they are left with is to sell their mining equipment in tries to earn some fair price back and reimburse some of their loss over the investment disdained. Bitmain, on the other hand, is offering its help in this hour of financial calamity to the Chinese miners by stopping the sale of its own top-notch mining equipment and favoring the sale of the second-hand mining equipment being sold by those affected badly in the recent China mining fatality. Bitmain will only be halting the sale of the mining equipment for the time being to help the Chinese miners to be able to sell their second-hand items.
This would definitely send some of the mining enthusiasts towards these second-hand sellers for the sake of buying cheap mining equipment, thus creating a market for these sellers as well, all thanks to Bitmain. The world of crypto mining is so intense and volatility spewing from every corner that an able investor would not risk his investment not put to work when the hour is shining and presenting opportunity of a solid return, that is why the selling and buying of the mining equipment are less likely to stop.
Charged of need and desire to step into the world of mining, the investors and traders would be compelled to buy from the second-hand sellers, and when enough is taken from the hands of these sellers, Bitmain will open for market once again.