The Coronavirus has drawn supply chains around the world are affected. However, the Bitcoin mining industry remains largely unaffected.
Four Bitcoin-mining companies indicated in an Interview that the supply chains for newer machines were broken, that they were however confronted with a few major problems. At least one company has fully adjusted to the pandemic, and all employees now work from home. And with the improvement of the conditions in China are starting to normalize things again.
More people will work from the office, in Restaurants go in and out. Of course, everyone COVID-19 takes very seriously and is wearing a mask, but things start to normalize again. I expect in the near future no problems of China in terms of the supply chain,
Thomas Heller, Global Business Director of the mining Pools F2Pool said.
Despite the closure of some of the miner new have found ways to adapt and even to prosper. According to the mining company Argo Blockchain, the entire company is migrated online.
Our company and our employees now all work remotely, and all of our mining plants have been able to continue its normal operation,
a spokesman of the Argo said.
So far we have had no problems with our suppliers of mining equipment. We see the demand at the Moment due to the halving of demand for Bitcoin in may, as a by Covid-19 transmissions. From our own experience, we expect that our latest shipment will be delivered of 1,000 S17+ machines in accordance with the agreements with our suppliers in a timely manner and installed.
The closure of supply chains around the world, however, has had an impact on several Bitcoin-mining companies. Several Mining have to cope with problems in the procurement of new machinery in the supply chain.
In February, there was some mining company in China as a result of travel and transport restrictions, a number of challenges. At some locations, the machines were broken and could not be sent to external repair centres. The deliveries of new Mining Hardware was delayed at the beginning of February to about two weeks, as these factories were closed.
The China-based Miner-manufacturer-what-miner reported similar interference, and further announced that the supply chain of the closures was affected.
It has slowed down the production, because not all of the factory returned workers from the February vacation and the access to Parts such as spare power supplies was more difficult. But what miner had delivered his mining equipments, series m30, and it was not as strongly affected.
Phill Salter, head of Genesis Mining companies, said that although there had been some disturbances, but not more than most of the Mainstream to cope with the had.
Supply chains worldwide are interrupted, and our more recent projects, therefore, been slower than planned. But this is, for the Moment, all the Same
While the supply of mining equipment remained largely unaffected, the demand for new miners back. Mining experts will make the decline in the price of Bitcoin before the Bitcoin Halving in may – which will halve the revenue from the Mining – responsible.
Our understanding of the market is that the demand for the latest and most efficient equipment has slowed, as many mining companies choose before halving a more cautious approach,
the Argo spokesman said. Genesis Mining added that it is on the decline in Bitcoin Hash-Rate of reading – the total sum of the computing power of the Bitcoin miners to keep the network up and Running. A decrease in Difficulty, it means less Miner to participate in the network.
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