Inner Mongolia authorities seize crypto mining rigs
Authorities in China’s Inner Mongolia province have seized 10,100 crypto mining rigs from a government-operated tech park. This is according to a report by a local media outlet earlier today.Citing China’s official Xinhua News Agency, the report said the mining rigs were seized from a government tech park where they are used for illegal mining operations. The article added that the seizure brought Inner Mongolia’s total to 45 mining projects shut down, saving the province 6.58 billion kWh of electricity or roughly 2 million tons of coal annually.
The mining rig was consuming 1,104 kWh and was situated at SME [small and medium enterprises] Pioneer Park, in Inner Mongolia’s Economic and Technological Development Zone. The government sets up such parks as innovation hubs. These regions enjoy preferential policies such as reduced tax rates or cheap rent.
Chinese provinces have banned crypto mining activities
Various provinces in China have banned cryptocurrency mining activities in recent months. Inner Mongolia issued a circular in May calling on the local governments to crack down on crypto mining.Earlier this year, the governments in the provinces of Anhui and Sichuan also banned cryptocurrency mining activities. The authorities have since then shut down numerous crypto mining farms in the country.
The mining ban has forced Chinese mining farms and independent miners to move to other regions, especially Kazakhstan, Russia and North America.
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