7,000 Illegal Crypto Mining Machines Seized

The crackdown on Crypto Mining Crypto Mining Cryptocurrency mining is defined as the process through which the transactions of a digital currency are authenticated then published to blockchain. For every crypto transaction conducted, a crypto miner is in charge of authenticating the information which, if approved, is then updated in the blockchain. Currently, the most popular cryptocurrencies being mined are Bitcoin, Litecoin, Ethereum Classic, Monero, and DASH. How is Cryptocurrency Mined?The process of crypto mining itself involves the s Cryptocurrency mining is defined as the process through which the transactions of a digital currency are authenticated then published to blockchain. For every crypto transaction conducted, a crypto miner is in charge of authenticating the information which, if approved, is then updated in the blockchain. Currently, the most popular cryptocurrencies being mined are Bitcoin, Litecoin, Ethereum Classic, Monero, and DASH. How is Cryptocurrency Mined?The process of crypto mining itself involves the s Read this Term in China has continued unabated, this time with the seizure of 7,000 mining machines, per a Cointelegraph report.

Crypto mining has been a point of contention for many countries, with China, in particular, taking some of the most sweeping steps to date to police this force.

This rigid stance against the illicit use of crypto mining served as the impetus behind the latest crackdown, which saw upwards of 7,000 machines illegally using power.

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The seizure of the machines was itself the product of an in-depth inspection that investigated nearly 70,000 households.

Within this figure was included a wide range of merchants, communities, and other entities within the Kaiping District, part of Tangshan.

While the seizure of the machines only took place yesterday, the investigation itself had been initiated last April.

Local authorities had determined the crypto mining machines were illegally pilfering electricity from a nearby village.

Chinese authorities have ramped up their efforts to curb illegal crypto mining, with the State Electric Power Department, among other authorities leading this charge.

Illegal crypto mining is not just an issue endemic in China, though state authorities have been far more active than other jurisdictions.

In this instance, local police claimed the Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term mining machines were operating 24 hours a day while consuming electricity at rates up to 40 times those of a regular family.

It is unlikely this crusade against crypto mining will slow down anytime soon. On the contrary, the seizure of so many machines has likely emboldened efforts to keep this threat under control in China.