Chinese police confiscated 4,000 mining devices

Chinese police have arrested 22 suspects allegedly involved in illegal mining, as well as 4,000 ASIC miners. Losses of electricity suppliers are estimated at about $ 3 million.

According to
China’s official press agency XinhuaNet, police in Jiangsu Province seized 4,000 devices that were used for illegal mining of cryptocurrency in nine enterprises.

Jiangsu Police launched a criminal investigation after a local power company reported an abnormal increase in electricity consumption. After nearly two months of investigation, police in the city of Zhenjiang found a group of criminals allegedly involved in the case.

Each device consumed between 25 and 50 kilowatt-hours of electricity per day at industrial prices, and the criminals stole electricity totaling about 20 million Chinese yuan ($ 2.91 million), a power company in Zhenjiang said.

Apparently the confiscation of the devices was a continuation of the investigation by the Chinese authorities, which began in the spring
track illegal mining farms. Other governments are also studying the work of illegal mining businesses. In late June, Iranian authorities confiscated
about 1,000 ASIC miners located in two buildings of abandoned factories and working on electricity, which subsidized the state.

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