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Filecoin Miner RRMine Global Shuts Down Market in China, Moves HQ to Singapore

Decentralized storage community Filecoin miner RRMine Global introduced that it’ll withdraw from the Chinese mainland market and shut its enterprise in mainland China, shifting its headquarters to Singapore.

In the press launch, the corporate stated that due to the coverage of strict restrictions on cryptocurrencies in mainland China and the divergence of its Web3.0 technique, it determined to utterly shut down mining operations in mainland China and transfer its headquarters to the world’s most cryptocurrency-friendly place, Singapore which is among the open economies.

Reportedly, a number of executives of Renren Mine have been taken away by the police from their workplaces in Chengdu, China for investigation final December.

Steve Tsou, Global CEO, RRMine Global

“Very much like other entrepreneurs, we want the best for our company, employees and community. The decision has been made after a profound examination and multiple discussions, and it has not been easy to come back from a downfall, especially when RRMine Global has Continuously provided services to all its users globally without fail despite all the events that happened. From today onwards, we would like to move forward and recreate the prosperous scene from China in Singapore.”

RRMine Global has been dedicated to fixing the issue of lack of liquidity in Web3.0 and has develop into the world’s main one-stop service platform for offering Filecoin.

Decentralized storage community Filecoin goals to present customers with decentralized information storage and transmission providers by its miners, utilizing its commodity {hardware}. Miners are additionally required to stake giant quantities of FIL tokens to begin their mining operations as a part of their “initial staking collateral.”

Filecoin had an preliminary coin providing (ICO) in 2017 and was listed on main exchanges, together with Coinbase. Shortly after FTX went public, the FIL futures contract shortly processed a quantity of $150 million.

RRMine Global additionally introduced the launch of “R-Datacap Storage” this time, which can considerably cut back working prices, enhance income effectivity, and promote the Filecoin incentive plan.

Image supply: Shutterstock

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