Bitcoin Mining Suppliers Increase Efforts to Meet Rising Product Demand

Chinese mining companies have increased efforts to meet the rising demand for mining machines amid bitcoin price skyrocketing this year.

The bitcoin mining suppliers have seen their export business enter a peak, with some mining machines already sold out. North America and Central Asia were the main sources of the surge in demand.

Canaan Creative, one of the world’s largest mining hardware manufacturers, said that they had seen a jump in orders since 2020. The bitcoin mining machine manufacturer company’s presale mining machines to the North American market alone have reached about 120,000 units, rose by 17 percent from the middle of February.

Bitcoin price has grown more than 35 percent since March and nearly 110 percent since the beginning of the year. The cryptocurrency price shot up to hit a new record of over $60,000 over the weekend.