China to confiscate 600 computers used in mining

Media IN – Agencies 25 \ 04 \ 2018

BEIJING (Reuters) – Police in the northern city of Tianjin seized 600 computers used in the mining of virtual currency, after the company running the local electricity network reported unusual activity, the official Xinhua news agency said on Wednesday.

“Eight high-power fans were also confiscated,” Xinhua quoted local police as saying, adding that this was the biggest case of electricity theft in the past few years

 

The date of confiscation of these computers was not reported.

China was home to most of the world’s top mining operations before Beijing began last year to discourage the process as part of a wider campaign to target and other virtual currencies. The volume of mining activity that moved out or closed is unclear.

Reuters reported in January that China’s central bank told a high-level government group of online financial transactions that the monetary authority ecould ask local governments to regulate the use of electricity for miners to gradually reduce production volume