20. 15. 2021 , Pavel Kotov
During a massive campaign to eradicate cryptocurrencies, the Chinese authorities have identified hundreds of miners who were stealing electricity from government agencies. And this is especially unpleasant against the background of the fact that the country is struggling with its shortage. According to Chinese state media, miners in Zhejiang and Jiangsu provinces began to persecute miners who consumed resources from state-owned enterprises, government departments, and universities and research institutes.
Source: bloomberg.com
In Jiangsu, it was discovered that from those related to cryptocurrency mining 4500 Internet addresses approximately 21% belong to government agencies. We are talking about a significant amount of energy resources: 422 thousand kWh. Cryptominers usually connect their hardware to cloud services called mining pools to validate transactions on blockchains, allowing them to track their location. So the investigators came to the presence of government agencies. The government of Zhejiang published a statement on the official social network, attaching pictures of equipment seized during the raids: illegal mining using state resources was revealed by 184 government IP addresses.
Coal shortage power outages since September have affected much of China, lowering growth forecasts for the world’s second largest economy. At the same time, miners really consume a lot: according to the results of 2020, it took 0, 00% of the electricity of the entire Jiangsu province. At the same time, Jiangsu and Zhejiang account for more than 17% of China’s GDP.
In September, Beijing announced a ban on all cryptocurrency transactions in the country, and See also the final ban on mining. The State Committee for Development and Reforms of the PRC called on local officials to investigate the facts of abnormal electricity consumption, as well as suspend tax breaks to eradicate this activity in the country. China’s policy has forced local miners to stop working or relocate to other countries. This week it became known that after the PRC left this business, the United States became the new leader – they accounted for 35, 4% world hash rate in August.
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