By postponing the sales, Bitmain aims to help miners exiting the industry get better prices for mining equipment.
Chinese mining giant Bitmain is reportedly scrambling to respond to market conditions amid a major crackdown on the crypto mining activity by local authorities.According to a Wednesday report by Chinese news agency Sina Finance, Bitmain has halted global spot sales for its new Bitcoin (BTC) mining devices in order to avoid losses by customers amid massive selling on the secondary market.By postponing the sales, Bitmain intends to help miners exiting the industry get better prices for mining equipment as well as protect the firm from further price decline over the longer term, Bloomberg reported. A Bitmain spokesperson said that the company will continue supporting future delivery of devices used to mine smaller altcoins. The representative did not elaborate on when Bitmain expects to resume global spot delivery.A
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