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During the first week of February, some of China’s leading mining rig manufacturers revealed that they had been forced to postpone device shipments due to the ongoing coronavirus outbreak. Regional reports from the country now reveal that shipments will suffer even longer delays and Chinese mining rig companies and second-market suppliers are experiencing significant stress as a result of the situation.
Read also: Hong Kong Crypto Exchange Bitspark Closes Between Coronavirus Outbreak and Protests
Coronavirus continues to delay shipments of mining platforms
The coronavirus outbreak has been a trending topic around the world, as the virus has spread since it was first identified in Wuhan, the capital of Hubei Province, China. More recently, the virus has hit the bitcoin industry because a large number of companies and mining operations originate from China.
In late January, Microbt announced that mining shipments would be delayed due to the coronavirus outbreak. The producers of mining rigs Canaan and Bitmain have also issued similar warnings. On February 1st Ebang posted a post on Wechat also informing customers of a delay. Weeks after and after the delay dates were supposed to be lifted, it reports details that mining rig manufacturers and suppliers are still held back by delays in coronavirus shipments.
On February 14, Vincent He of 8btc interviewed a mining equipment salesman from Huaqiang North, a large distribution center for mining rigs. Miss Hu told the columnist “After waiting a long time for the bitcoin halving, my shop couldn’t open.” The seller explained that the delays have already been issued twice and does not know “if there will be any changes”. The consequences could also affect his sales as he believes newcomers may not visit the store due to the risk of infection. Additionally, 8btc discussed the matter with Bitmain Sales Director Xiaojun Fan who pointed out that deliveries are still overdue. Fan noted that employees are unable to return to work due to coronavirus quarantine controls which in turn are affecting the supply chain of mining rigs.
Will Coronavirus Affect Overall Hashrate and Next Bitcoin Halving?
Additionally, Btc.top founder Jiang Zhuoer discussed the coronavirus outbreak affecting mining operations on Weibo. “It’s understandable to take our employees’ temperatures, call the registry and ban them from going out, but how does shutting down mining machines help with quarantine checks? If we go this way, most people (especially frontline workers) will have to die of poverty without suffering from the virus, ”Zhuoer said. The comment came after one of its mining farms in Xinjiang was forced to close temporarily.
It is estimated that 65% of the global SHA256 hashrate resides in China and some speculators to believe BTC’s recent difficulty adjustment has eased due to coronavirus quarantine checks. BTC’s hashrate averaged around 110 exahash per second (EH / s) all the way through February 15th, but hashpower dropped to around 97 EH / s on February 19th. of China are carrying the brunt. The lag is terribly close to halving the reward even on chains like BTC, BCH and BSV. To date, there are 80 days to go until BTC halving and BCH and BSV will see halving a month earlier.
Furthermore, the recent 8btc report highlights that if the outbreak worsens, mining operations located in Xinjiang, Inner Mongolia, Sichuan and Yunnan could “suffer. [from] leaks. “As of press time, next-generation miners like Bitmain’s T and S 17 series are expected to ship during the first week of April.
What do you think of the coronavirus affecting the bitcoin mining industry and the supply chain of mining platforms? Let us know what you think about this topic in the comments section below.
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Image Credits: Shutterstock, Twitter, Wiki Commons, Fair Use, BBC and Pixabay.
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