Skip to content Skip to sidebar Skip to footer
A search for miners organizing the extraction of digital currencies in government institutions has begun in the Chinese province of Zhejiang.

The Zhejiang Cyberspace Administration announced on WeChat the discovery and arrest of a group of miners responsible for cryptocurrency mining at a state-owned enterprise. Local law enforcement officers discovered GPU farms set up by “would-be businessmen” to mine Bitcoin and Ethereum.

The investigation began in early September before Chinese authorities imposed a total ban on any cryptocurrency trading activity. As a result, the police raided 4,699 IP addresses suspected of illegal mining. Among these, 184 IP addresses belonging to 77 government agencies involved in extracting crypto assets were identified. After analyzing the IP addresses associated with digital currency extraction, the inspectors visited 20 departments with 119 IP addresses suspected of engaging in illegal activities.

Filecoin (FIL) miners are among the most difficult to track down, according to police. However, it does not necessitate as much energy consumption as its “colleagues” Ethereum and Bitcoin, nor does it necessitate the use of specialized equipment in the form of ASIC miners.

Despite increased mining repression, the Chinese Ethereum mining community is not giving up, and the network hash rate continues to break all records. Despite the closure of several of the largest mining pools in the PRC earlier in the year.

Over the last few weeks, the hash rate from Sparkpool has migrated to F2Pool, whose capacity has more than doubled to exceed 165 TH/s. Parallel to this, Ethermine’s hash rate increased by 15%, reaching over 185 TH/s.

Yesterday, China was dealing with the worst power shortages in a decade, and Zhejiang is one of the hardest-hit provinces. As a result, the reasons for taking serious measures to reduce excessive energy consumption are quite predictable.

Checks for miners had previously been announced in government agencies, universities, and schools in Hebei province in the country’s north.

Show CommentsClose Comments

Leave a comment

The leader in blockchain news, Cryptowatchlists is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. Cryptowatchlists is an independent online newspaper, which concentrate in cryptocurrencies and blockchain startups.
Our Biggest Stories Delivered to Your Inbox