The future for manufacturers of bitcoin mining hardware in China appears bright despite reports that the Chinese central government will seek to rein in the power consumption of mining companies operating within its borders.
Hong Kong-based media outlet, South China Morning Post, has reported that there's extensive international demand for Chinese mining hardware internationally – with Russian consumers representing a big share of the industry’s demand.
Russian Buyers Provide Demand for Chinese Mining Equipment
South China Morning Post stayed with Alex, a 38-year-old Russian man of affairs visiting China to determine connections with bitcoin mining hardware retailers.
The report states that Alex spent 3 days exploring central Shenzhen, wherever he compared the merchandise offered by thirty totally different retailers. Alex claims to possess had 2 or 3 journeys to China over the last fifteen years to buy toys that he resells in Russia, however, this can be the primary trip that he has undertaken so as to buy mining hardware.
Alex states that once he initial entered the bitcoin mining business he purchased two hundred units in national capital, that he paid a two hundredth premium compared to the Chinese market. He states that there's way more to think about than simply the costs of the hardware he inspects, accenting that “It’s concerning a way to select a real distributor [that I trust].”
For Alex, Shenzhen, specifically, offers too several potential retailers to simply make a choice from.
Mining Hardware Vendors Plentiful in Shenzen
South China Morning Post recounted exploring the SEG Plaza in Huaqiangbei, Shenzen – a significant producing hub that has comprised a Special Economic Zone since the 1980’s.
The report states that the plaza homes “vendors of mining machines scattered between the fourth and sixth floors in areas originally occupied by sellers of laptop elements,” noting that “One mining look had a Russian translation at all-time low of its ad.”
Whilst South China Morning Post article states that “Russians dominate the list of foreign customers,” it's additionally reported that “Indians and different Europeans” comprise a big share of the market demand for Chinese mining hardware.
Do you assume that China can maintain its dominance over the mining hardware producing market? Share your thoughts within the comments section below!
