China Finds Illegal Crypto Miners Stealing Electricity

Banned bitcoin miners were found using China’s state resources to carry on with their operations.

The Chinese Bitcoin mining industry represented the biggest BTC production in the world.

The shutdown of such a significant industry does not only impact the numbers of carbon dioxide emissions but also weights over a big human factor that was reliant on mining operations.

It is being widely reported that many Chinese Bitcoin miners are migrating to the U.S. and countries where they can find cheap electricity and kinder laws.

At press time, Bitcoin trades at $61,824 with sideways movement in the 24-hour chart. The question is raised whether some Chinese crypto miners will find other ways to carry on operations in China’s own way to endure the crisis.

The Chinese government has been working on an ambitious plan to reduce carbon emissions until they reach carbon neutrality, which has found a big obstacle since they rely on coal for generating electricity. The government is working to reduce its own power shortage.

China catches hundreds of banned crypto miners stealing electricity amid energy crisis

Banned crypto miners reportedly siphoned electricity from public agencies and universities during an electricity crunch caused by a coal shortage.

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Banned Crypto-Miners Siphoning Power from Chinese Public Firms – ExtremeTech

Two Chinese provinces have found that a substantial chunk of illegal mining was happening at public institutions. Naturally, the government aims to put a stop to that.�

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Tom’s Hardware

Report: China Discovered More Cryptocurrency Miners Stealing Electricity

Illegal cryptocurrency miners were said to be stealing power from public institutions

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Russia to slap crypto miners with energy tariffs amid wave of migration from China – EconoTimes

Russia is considering slapping special energy tariffs on cryptocurrency miners after Chinas industry ban triggered a wave of migration. There was an exodus of cryptocurrency miners to Russia after bitcoin mining…

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