The shipments of Bitcoin mining rig in China is delayed because of Coronavirus
It seems that the supply of Bitcoin mining rig from China is delayed due to Coronavirus. Microbt and Ebang even sent notices to customers through the company’s WeChat channels. Sources said Bitmain and Innosilicon are also delaying the transport of mining equipment.
Microbt and some Chinese ASIC manufacturers delayed Bitcoin mining rig shipments
Over the past few weeks, the whole world has been nearly choked by the 2019 Coronavirus (nCoV) outbreak in Wuhan, China. Coronavirus is often found in some animals such as bats, snakes, etc. but when affecting humans, Coronavirus can cause severe respiratory infections and flu-like symptoms. On January 29, 2020, the Chinese mining rig manufacturer Microbt announced that it was delaying international shipments because of viruses.
Moreover, from guidelines issued by the Guangdong provincial government, they announced that they would postpone shipping until February 9, 2020.
Microbt’s notice stated:
“The production, delivery, after-sales service, and sending and receiving documents and other agreements will be delayed.”
Ebang delayed the mining shipments
Not only Microbt delayed because Coronavirus, 3Logic’s CEO, Artem Eremin, revealed Innosilicon and Bitmain would also delay the transportation of mining rig. Following Microbt’s announcement, Ebang also issued a delay notice.
Unlike Microbt, however, Ebang’s deferral notice will not be removed until February 9 or 10. The Ebang announcement also has several pictures of doctors, needles, and medical symbols.
Notice of Chinese mining manufacturer Ebang.
Currently, there are no antiviral drugs or vaccines that can protect against Coronavirus. Besides, the entire Wuhan city of China (with a population of 11 million) was isolated. Moreover, some other small areas in China are also isolated. And now, there is a strong belief that cryptocurrency (Bitcoin) and safe-haven assets like gold will benefit from the fear of Coronavirus. Gold has skyrocketed significantly since the virus outbreak in Wuhan, and the cryptocurrency market capitalization has increased by over 30% since the beginning of the year. However, delays in mining rigs may affect the overall SHA256 hashrate (BTC, BCH, BSV) and may delay further increases in the next month.
Some speculators believe that the delay could affect the overall SHA256 hashrate. At the time of publication, regarding the hashrate, BTC has 112 exahash per second (EH/s), BCH has about 4 EH/s, and BSV has about 3 EH/s.
Microbt, Bitmain, Ebang, and Innosilicon all announced next-generation mining companies, but most deliveries were scheduled in mid-February. The current delay may not negatively affect the market if this is the case. Still, the Guangdong provincial committee and other Chinese government entities may decide to extend the suspension if the Coronavirus continues to spread.
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