Local authorities have seized 1,106 mining rigs from two cities in China’s southeastern province of Guangdong.
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Fast facts
- The Guangdong Provincial Development and Reform Commission announced on Tuesday that it had uncovered a mining farm in Guangzhou disguised as electric vehicle (EV) charging stations with 190 mining rigs worth more than 5 million RMB (US$791,302).
- The large power consumption of EV charging points allowed the miners to remain in operation for over 1,000 hours while staying hidden from authorities enforcing China’s ban on crypto mining.
- In Jieyang city, 916 mining rigs were confiscated, along with the crypto farm’s operational equipment, according to the provincial government’s statement, also released on Tuesday.
- Local governments are raising electricity bills to discourage cryptocurrency mining, as authorities continue to uncover remaining miners in the mainland.
- China still accounts for 10% of global Bitcoin transactions, the People’s Bank of China said last week, a sharp drop from its 90% dominance before the crypto ban.
See related article: Crypto traders in China may serve over 10 years in prison