China’s Inner Mongolia Snags 10,100 Mining Rigs From Government Tech
China’s Inner Mongolia Snags 10,100 Mining Rigs From Government Tech Park
- Inner Mongolia region seized 10,100 crypto mining rigs.
- The regulators seized the mining rigs from a government-operated tech park.
Inner Mongolia region seized 10,100 crypto mining rigs from a government-operated tech park.
According to local news, a branch of the Development and Reform Commission in Bayannaoer city found the mining rigs at the park.
The move comes just a couple of days after China’s central bank announced a new crackdown on crypto trading and mining. China’s regulators banned investment in new mining operations, saying all existing projects should go.
To clarify, this action brings Inner Mongolia’s total to 45 mining projects to stop operating. As a result, the regulators said this closure saves the province 6.58 billion kWh of electricity. Looking at this, the report noted that this could be 2 mill…
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