Police of China Expropriated 600 Computers Used for Illegal Mining
April 25, 2018
Police of the city of Tianjin has seized 600 computers that were used for mining Bitcoin. They noticed enormously high power consumption rates at the local power grid and initiated search of the source of it.
Xinhua cites the police officer saying that the case was the major power theft. Police also expropriated 8 large fans used for cooling hardware. In the course of investigation one person was reported to be detained while five other ones alleged suspects.
Note that China is the place of choice for miners as the country provides low-cost electricity and hardware. The January report by International Business Times said, mining 1 BTC in China would take $3,172 which generates 280%-profit given current average coin price.
The case turned to the third in a month with the police of China getting involved into cryptocurrency-related matters. Law enforcement bodies already used to halt Blockchain conference in Shanghai and detained the founders of a crypto pyramid earlier.