June 17, 2024

About 7,000 ASIC miners confiscated in China

About 7,000 ASIC miners confiscated in China

According to a local news outlet, Chinese authorities have confiscated about 7,000 ASIC miners illegallyconsuming electricity.

Militiamen teamed up with the State Departmentelectricity to conduct targeted inspections of more than 70,000 points connected to the power supply in Tangshan near Beijing. The raid covered 3061 outlets and 1470 communities and villages.

During the raid, the Chinese police managed to find a private transformer that was used to mine bitcoin. 1906 ASIC devices found in the premises were connected to it.

In a neighboring village, police confiscated three morepowerful transformers and 790 bitcoin miners who stole electricity. In total, law enforcement officers managed to seize 52 transformers and 6,890 ASIC miners.

Cryptocurrency mining itself is not prohibited in the country, but the Chinese Communist Party is actively fighting the spread of speculative assets.

In addition, such illegal mining farms stealelectricity, and the police are trying to stop its illegal use by crypto miners, who are currently responsible for 66% of the world's hash. According to police, such underground mining farms operate around the clock, consuming electricity 40 times more than an ordinary family.