China Arrests 22 Bitcoin Miners
Main page News, Bitcoin, China, Mining, Regulations, Cryptocurrency
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July 12, 2019
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China's police department in Jiangsu Province has confiscated approximately 4,000 rigs used to mine bitcoin (EXANTE: Bitcoin) after an abnormal electricity usage was reported by a local power company, Xinhuanet reports.

Police in China's city Zhenjiang caught a criminal gang (22 people), that had been mining crypto in nine factories.

One of the detained miners told police he bought 10 BTC mining rigs back in 2017 and made profits in southwest China's Yunnan Province.

Each mining computer reportedly used 25 to 50 kW hours of industrial electricity per day, and thousands of mining rigs operating around the clock stole power worth nearly 20 million yuan (around $2.91 million), notes Xinhuanet.

Back in June, iHodl reported that Iranian authorities seized 1000 bitcoin mining rigs after the spike of electricity power from two factories.

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