Not a great time to be a Bitcoin miner in China. Guangdong province’s Development and Reform Commission has reportedly confiscated 190 crypto mining machines estimated to be worth 5 million yuan.
The mining farm was operational for over 1,000 hours and had consumed more than 90,000 kilowatt-hours of electricity.The authorities busted the crypto mining operations after examining the energy consumption of the charging station, which revealed discrepancies in the electricity consumption. Similarly, Jieyang City seized 916 mining machines in February.throughout the country last year, citing their carbon emission goals and high electricity consumption by the crypto mining operations.
The authorities in various provinces of China have since then carried out state and city level inspections to wipe out even the smallest home-based mining operations. China, which contributed more than 60% of the Bitcoin (