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Tag Archives: state electric power department

Chinese Authorities Seize 7000 Illegal Cryptocurrency Mining Machines

In its recent crackdown, the Chinese authorities have seized 7000 crypto mining machines alleged for illegally consuming electricity. The local Chinese media publication CCTV reported that the confiscation of crypto mining equipment as part of inspection across the country.Over the last few years, China has been the most lucrative destination for crypto miners. Regions like Sichuan produce an abundance of hydroelectric thereby making electricity available at a very cheap cost. We already know...

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