Police cracking down on bitcoin mining operations in Yunnan, China
There is a news circulating about police officer in city of Yunnan, China. His team was investigating bitcoin mining operations in this city.
He has recently stopped 10,000 mining machines, all of which were placed in a three story factory building. Police suspected mining because of high electricity consumption. Clearly, that means all bitcoin mining machines were placed closely and that alone would raised a lot of eye brows.
It is being reported by qq.com (Chinese) that the company had rented this house and was given permission to carry out bitcoin mining with the Zhangwo’s power station’s surplus power.
The person in charge of company was charged. He has been asked to not engage in any bitcoin mining and trading without permission of related departments.
China has been cracking down on bitcoin mining operations since early June. In fact, due to bitcoin crackdown, many small hydropower stations are now for sale on e-commerce websites. Also, prices of electricity and entire hydropower stations have dropped considerably as bitcoin miners exit china.