China continues to hunt underground Bitcoin miners

China continues to hunt underground Bitcoin miners

Key facts:
  • Bitcoin miners could be hidden in data centers in Jiangsu.

  • Bitcoin resists dying in Chinese territory, although it is increasingly difficult to exercise mining.

China continues to search underground for Bitcoin miners to terminate its operations immediately, according to measures that the authorities continue to take.

Jiangsu Province, in the east of the country, announced today in a statement that would shut down mining operations for Bitcoin and other cryptocurrencies on its territory.

The Jiangsu Communications Administration (ACJ) said today that it will apply regulatory measures to those miners who, in their presumption, are still operating camouflaged in data centers (data centers).

The mining farms would be located in cities such as Suzhou, Xuzhou and Nanjing, the capital city of Jiangsu province, the statement read. ad published today October 8, 2021.

The move is made in response to a notification from the China National Development and Reform Commission that was published on September 24, and where this institution included cryptocurrency mining in its list of prohibited industries.

China continues to hunt underground Bitcoin miners
The availability of hydroelectric power at a low price is conducive to mining in China. Source: Wikipedia.

Evidence of underground Bitcoin mining in China

According to the YMCA statement, they have identified 136.77 megabits per second traffic (mbps) that would be related to Bitcoin mining farms, while they have been identified 4,502 IP addresses involved.

Processing power, measured in hash rate per second, stands at 10 petahashes, while energy consumption is at 260,000 kilowatts per hour (kWh) per day, according to the ACJ.

China has been tightening its bans against Bitcoin and mining, sparking a new exodus of miners in recent weeks. Equipment has even been confiscated and access to cryptocurrency-related websites has been blocked.

In CriptoNoticias we have reported how this could have to do with a possible energy crisis that prevents China from sustaining the mining of Bitcoin and cryptocurrencies, an intensive activity in terms of electricity consumption.

This medium also reported how still 130 nodes of the Bitcoin network were located in China. Even though the industry is fleeing the country, Bitcoin is still hard to kill.

See also  Bitcoin miners profits grow 150% in two years, although they generate less BTC

Leave a Comment

Your email address will not be published.