Over 3,500 Bitcoin mining equipment have been seized in China, and electricity costs have been raised

Over 3,500 Bitcoin mining equipment have been seized in China, and electricity costs have been raised

Guangdong, Heilongjiang, and Shanxi provinces announced Bitcoin mining equipment seizures and other actions to phase out enterprises that escaped waves of crackdowns following the September crypto ban. Between October and mid-March this year, Dongguan , a city of 10.5 million people in the southeast province of Guangdong, seized 2,957 Bitcoin mining machines. Meanwhile, on March

Guangdong, Heilongjiang, and Shanxi provinces announced Bitcoin mining equipment seizures and other actions to phase out enterprises that escaped waves of crackdowns following the September crypto ban.

Between October and mid-March this year, Dongguan , a city of 10.5 million people in the southeast province of Guangdong, seized 2,957 Bitcoin mining machines.

Meanwhile, on March 15, authorities in Yunfu , a 2.4 million-strong metropolis in Guangdong, confiscated 554 mining equipment in a neighbouring village.

In March, Mudanjiang , a metropolis of 2.3 million people in the northern province of Heilongjiang, confiscated more than 60 rigs from covert mining fields across its area.

Shanxi province stated on Friday that starting May 10, electricity costs for mining farms will increase by 1 yuan (US$0.16) per kilowatt.

Authorities have used anomalous electricity consumption and IP addresses associated with mining pools to discover Bitcoin mining facilities since the crypto ban last September.

According to Chinese media, the increase in electricity rates for crypto miners in Zhejiang province earlier this year was intended as a deterrent to the return of illegal mining operations.

Related Posts – Ex-SEC Chair, Jay Clayton Believes Cryptocurrency Industry Is For Long Haul

Will
AUTHOR
PROFILE

Posts Carousel

Latest Posts

Top Authors

Most Commented

Featured Videos