Digital Currency

China takes a savage approach to Ethereum miners, shutting down over 10,000 mining equipment.

Over 10,000 crypto mining machines were seized by Chinese officials from a retail park in Inner Mongolia.

This is China’s National Development and Reform Commission’s (NDRC) first bust since the government strengthened its grip on cryptocurrency trade and mining a few days ago.

Authorities in Inner Mongolia received a tip about a crypto mining business in a retail park warehouse, according to Chinese state news. Officials rushed to the scene and discovered 10,100 mining rigs, which were finally confiscated.

It’s worth noting that the Chinese government has recently increased its supervision of cryptocurrency mining businesses. The NDRC announced that it would begin monitoring electricity usage levels in order to identify unlawful mining farms operating in the area.
According to official media, the raided farm’s power consumption was 1,104kW/h. Although the digital currency being mined in the facility has not been revealed, the power consumption and a number of rigs suggest they were Ethereum GPU miners.
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While past prohibitions appeared to target publicly-traded mining companies, authorities are now focusing on smaller mining activities that have slipped between the cracks.
Sparkpool, the world’s second-largest Ethereum mining pool, has halted escalating crypto crackdown.
On Monday, the mining pool said that it had banned new user registrations in mainland China in reaction to Chinese authorities taking further steps to curb cryptocurrency adoption in the nation.
Following the initial restrictions made last Friday, Sparkpool will continue shutting down services and plans to suspend existing mining pool users both in China and abroad on Thursday.
                                                                                                                                                              
 

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