Chinese authorities confiscate nearly 7,000 crypto mining machines

posted 7 months ago
Chinese authorities seized nearly 7,000 crypto mining machines for “illegally consuming electric power.” There was an inspection of more than 70,000 households, 3,061 merchants, 1,470 communities, as well as factories, mines, courtyards and villages in the Kaiping District of Tangshan city. The inspection was carried out by authorities looking to inspect suspicious electricity use.

During the investigation, which initially started in April last year, the authorities seized 6,890 ASIC miners and 52 high-power transformers. According to the police, crypto miners were stealing electricity from a nearby village. The police also said that Bitcoin (BTC) mining machines were operating 24 hours a day, consuming electricity at rates up to 40 times those of a regular family.
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