Is This Chinese Firm Defying Crypto Ban With its Latest Bitcoin Mining Partnership?

Sino-Global Shipping America, Ltd. has announced that it will be entering a Bitcoin mining machine joint-venture with Highsharp, a blockchain technology firm. Furthermore, Sino-Global has also revealed that it will make a $10 million initial investment to fund the BTC mining rigs’ Joint Venture operations, in the upcoming month. The partnership aims to create their Bitcoin mining machine under the name, Thor. Sino-Global is Headquartered in several corners of the world, including the territory with an absolute anti-crypto regime of Mainland China.
Mr. Lei Cao, Chief Executive Officer of Sino-Global, commented, “This is a major strategic development for Sino-Global with the potential for significant long-term financial benefit. The name we chose underscores our JV’s considerable combined resources, market knowledge, and capacity to address unmet demand for high-quality, reliable digital mining machines. Recent crypto policy changes combined with ongoing global component shortages have served to remove valuable digital mining production capacity. We intend to fill that vacuum and plan to move aggressively as we build greater value for Sino-Global and all shareholders.”
Sino-Global could be the next victim of Chinese Crypto crackdown
The firm was founded in the United States and plans to invest an estimated $50 million over the next few years to support work performed in the U.S. itself, yet its headquarters in Mainland China could be affected by this latest partnership. Amid the ongoing and ever-expanding crypto crackdown under the authoritarian rule of the Chinese Government, Sino-Global could see potential closure instead of its exclusive Bitcoin Mining Rigs project.
The authoritarian government in China started with cracking down on Bitcoin Mining farms in metropolitans first, and further moving down to the smaller provinces, which in turn caused the great mining migration. The Chinese government has successfully shut down hundreds of mining farms, and exchanges, and left individual retailers at the brink of bankruptcy by levying crypto trading and mining in China as illegal. Crypto giants like Huobi and Binance suspended their services in the arena after facing the Chinese regulators’ wrath. Sino-Global is also speculated to bear the burn on China’s crypto crackdown fire.
- Is Trump Family, Mr. Beast Buying ASTER Token? Rumors Gain Strength
- Solana ETF Update: Grayscale, Fidelity, Others Files S-1 With Staking, Approval Expected in Two Weeks
- Cyber Hornet Seeks SEC Nod for S&P 500 and XRP ETF
- Cathie Wood’s Ark Invest Eyes Stake in Tether as USDT Issuer Targets $500B Valuation
- Kraken Secures $500M at $15B Valuation, Eyes IPO in 2026
- Solana Price Set for Q4 Surge as Canary Capital ETF Filing Meets Wyckoff Accumulation
- Avalanche Price Could Surge to $50 as Transactions Jump 200%
- CHMPZ Price Prediction:Will This Net-Zero Community Token be the Next Gem?
- Ethereum (ETH) Price Set for a rebound as Whales Accumulate $1.6B ETH and Outflows Hit $622M
- HYPE Price Prediction As Bitwise Files For Hyperliquid ETF – Is $55 In Sight?
- Shiba Inu Price Eyes Recovery From Demand Zone With Burn Rate Soaring Nearly 400%