China has fined Bitmain, one of the world’s biggest producers of cryptocurrency mining rigs, nearly 25 million yuan (US$3.6 million) for alleged tax violations, according to the Beijing tax authorities.
The Beijing branch of the State Taxation Administration said on its website that it fined Bitmain on April 4 for failing to comply with personal income tax regulations.
The authority sent a notice on the violations to Bitmain in August last year but the company failed to withhold and pay about 16.6 million yuan in personal income tax.
Bitmain did not immediately respond to Forkast’s request for comment.
Founded in 2013, Bitmain is widely known for its Antminer series. On Tuesday, Nasdaq-listed U.S. crypto miner CleanSpark said that it had bought 45,000 new Antminer S19 XP units for US$144.9 million to double its current Bitcoin mining capacity, with all units expected to be ready for delivery by Bitmain by the end of September.
