Ports showcase that the Chinese central government is pursuing to restraint power consumption by private mining organization working in China, the prospects for bitcoin mining hardware manufacturers seem promising.
South China Morning Post, Hong Kong-based news agency narrated that there is possibly a global demand for Chinese virtual currency hardware globally. The Russian buyers are seemingly holding a great proportion of the virtual currency hardware global industry demand.
Russia Buyers holding significant proportion for Chinese mining hardware demand
A report was made by South China Morning post on a meeting with a 38-year-old Russian businessman exploring China to develop strong linkages with bitcoin mining hardware retailers.
According to the document in the three-day business trip to China, Alex assesses and examine the products presented by 30 various retailers. Over the last 15 years, Alex has argued to have had an estimate of about 3 trips to China, to buy toys that he sells on to the Russian market, nonetheless, this is the first time he has taken the trip to China solely to obtain virtual currency mining material.
Furthermore, Alex indicates that his first transaction in bitcoin mining involved him buying 200 units in Russia, which consist of a 20 percent premium as a contrast to the Chinese market. He sighted that it is more than just the pricing of the hardware he wishes to purchase but to establish the trustworthiness of the supplier as well.
China provides a variety of suppliers to purchase from, giving potential buyers numerous options to pick from.
Variety of Suppliers to Choose from in China
A report was conducted by South China Morning Post on SEG plaza in Huaqiangbei, Shenzhen. This is a key industrialize area that includes a special Economic Zone establish way back in 1980’s.
The findings include that the plaza houses which are retailers of mining machines disperse in the middle of the fourth and sixth floors in areas which were originally utilized by vendors of computer materials. He also happens to mention that advertisement of one mining retailer comes with Russian translation at the bottom of the advertisement.
Although Russian seem to dominate the race for virtual currency mining hardware in China from the global community, it has also been noticed that the Indians and other European countries hold a great share of the demand for virtual currency mining hardware market in China.