Companies Deny Having Bitcoin or Blockchain Services Amid China’s Clampdown – Announcements Bitcoin News


Companies Deny Having Bitcoin or Blockchain Services Amid China’s Clampdown

After Xunlei was questioned about Initial Miner Offerings (IMO), multiple public companies clarified that they did not and will not tap into the blockchain space. A Shenzhen-based bitcoin miner manufacturer issued a statement saying the business hasn’t generated much profit for the company.

Also Read:China’s Regulatory Authority Warns About Risks of Initial Miner Offerings

Produce Bitcoin Miners, But Not A Blockchain Company

Shenzhen Kaifa Technology (KAIFA), a global leading electronics manufacturing services provider, produced 150,000 bitcoin miners this January for domestic mining companies. On January 14 the company voluntarily disclosed their financial and other information via a statement on the company’s website clarifying that it is not a blockchain company.

We have noticed the sentiments about blockchain are very high, but the company has yet to research and develop the technology. KAIFA is a bitcoin miner manufacturer for domestic bitcoin mining giants, but the business is not profitable as it was just started three months ago.

KAIFA’s shares (000021.SZ) rose over 15% in the past three days as public regards KAIFA as a blockchain technology. The company noted that they are working on possible cooperation over blockchain projects with well-known companies, but there are fuzzy uncertainties to consider.

Wait, We Have More to Deny

Companies Deny Having Bitcoin or Blockchain Services Amid China’s Clampdown

Earlier this month, rumors said that IDG Capital and Blockchain company Circle will invest in Sichuan Shuangma Cement Company (stock:000935) to develop blockchain, which has put the company in the spotlight. The Sichuan-based company on Sunday announced that they have no intention to develop blockchain-related services and have no links with IDG Capital and Circle.

U9 Game last Friday released an announcement that they are only reporting and sharing what’s going on in the blockchain industry on its news site. The company stressed that they have no plans to raise funds for any blockchain projects.

Another two public enterprises also ruled out possibilities to race in blockchain and warned investors the risks of blockchain projects.

What do you think of these Blockchain phobia? Are they really ruling out the cutting-edge technology? Leave your comments below.   

Images via Shutterstock.

Tags in this story
bitcoin miner manufacturer, Blockchain, Circle, IDG Capital, IMO, Initial Miner Offerings, miner, N-Announcements, shares, Stock, Xunlei

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Cindy Wang

Cindy is a cryptocurrency journalist who has been focusing on the Chinese community. She finds it fascinating to be part of the industry and hopes to see the world change for the better.

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