China fights illegal Bitcoin mining farm

A bitcoin mining farm has been uncovered in China that illegally tapped electricity.China is considered an important point of contact for Bitcoin miners. Although the country has not yet issued clear guidelines on how to “mine” new BTC, the country is still attracting miners, particularly because of the low cost of electricity. Mining giant Bitmain, one of the leading manufacturers of BTC mining rigs, also has its roots in the communist-led country. But as it turns out, the country is not only attracting companies with apparently honest motives.

 

Chinese authorities found the location

The Chinese authorities have recently managed to excavate an illegal bitcoin mining farm. The spicy: From the outside, the farm appeared as a burial site. As the Chinese news magazine Bejing News reports on May 31, the illegal bitcoin mining farm was located in the northern Chinese city of Daqing.As the magazine said, the authorities had acted because an oil company complained that it had suffered an inexplicable loss of energy. The officers then found the entrance to the mining farm under two mounds of earth. According to other reports, the Chinese authorities had recently had a similar blow. Officials secured a total of 54 Bitcoin mining rigs underground a week before the Daqing incident. These too had been operated with stolen electricity.