City authorities in China’s Inner Mongolia province reported the seizure of 10,000 unregistered cryptocurrency mining equipment on Monday, September 27. The mining equipment was discovered in a shed in the small and medium-sized enterprises area of an entrepreneurship park located in Bayannur.
Regarding confiscated mining equipment a statement State news agency Xinhua says the facilities’ energy consumption increases by about 1,104 kWh. officials tell 45 mining farms already closed in Inner Mongolia province, which represents an annual consumption savings of 6.53 billion kWh, according to the statement.
The seizure came shortly after the announcement by the People’s Bank of China last Friday that declares the illegality of bitcoin and cryptocurrencies, as reported by Cryptonoticious. The details are made available on the website of the National Development and Reforms Commission (NDRC). On specific measures related to cryptocurrency mining, as part of the central bank’s announcement.
Source for tracing illegal mining: Wikipedia.
Planned siege of bitcoin mining
Inner Mongolia was the NDRC an outside company It is the engineering company Mengze, who was hired on September 15 to coordinate an intelligence unit that keeps information up-to-date on secret cryptocurrency mining activities to oversee mining companies.
NDRC Commission in press briefing Answer For a question on “Improvement of Cryptocurrency Mining Activities”.
The treatment of virtual currency “mining” activities is of great importance in promoting the optimization of China’s industrial structure, promoting energy conservation and emission reduction, and achieving the goal of extreme carbon and neutrality in time. Carbon.
National Development and Reform Commission, China.
However, these are not new or recent measures. Since May this year, restrictions on cryptocurrency mining activity have increased, leading to for the fall in the hash rate of bitcoin, as reported by this medium.
also in may an aggressor Inner Mongolia authorities against bitcoin mining, a fact reported by Cryptonoticious. According to a report by financial services firm Galaxy Digital, commented here, the suppression of mining in China is directed at to eliminate bitcoin.
