Coronavirus – Delay In Cryptocurrency Mining Equipments Delivery

by Patrick Gon

Three of the major cryptocurrency mining hardware manufacturing companies notified their customers that the shipment of their orders would be delayed at least one week due to the quarantine established in China by the coronavirus.

This week MicroBT, Bitmain, and Innosilicon notified their customers that the cryptocurrency mining ASIC teams they had ordered would not be sent immediately, because the Chinese government had extended the Chinese New Year’s festivities because of the outbreak of the coronavirus, said Artem Eremin, production manager of the equipment retailer ASIC, 3Logic.

MicroBT published a notice on WeChat regarding the decision taken by the government of Guangdong Province to extend the Chinese New Year’s festivities for another week, until February 9. As a result, “production, shipping, post-sale services, shipping and receiving documents and other arrangements” would be delayed, “says the MicroBT notice.

Eremin stated that both Bitmain and Innosilicon also warned their customers about the delay in sending their orders.

Bitcoin trade volumes paired with the Chinese yuan on the LocalBitcoins p2p trading platform have fallen to the level of 2017, according to iHodl Russia. These volumes have been in a downward trend since the end of 2019. The volumes have fallen from an annual maximum of 45 million yuan (approximately USD 6.5 million) by more than 90%.

The highest trading volume was recorded in January 2018, when LocalBitcoins recorded 168 million yuan (USD 24.3 million) in operations.

The coronavirus, formally called nCoV-2019, was first sighted in January in the Chinese city of Wuhan. The authorities quarantined the entire 11 million inhabitants of the city, as well as several other nearby regions.

According to reports, the coronavirus has already killed 170 people and has caused more than 7,700 infected worldwide.

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