{"id":2458,"date":"2022-03-09T03:41:40","date_gmt":"2022-03-09T03:41:40","guid":{"rendered":"http:\/\/cryptoheretostay.com\/?p=2458"},"modified":"2022-03-09T03:41:41","modified_gmt":"2022-03-09T03:41:41","slug":"chinese-officials-take-down-crypto-mine-worth-790k","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=2458","title":{"rendered":"Chinese officials take down crypto mine worth $790k"},"content":{"rendered":"<p> <script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n <\/p>\n<p>China\u2019s approach towards \u201cfree cryptocurrencies\u201d has been evident through its many actions. For example, even though the country is responsible for more than 10% of all Bitcoin transactions, they also banned crypto fundraising and mining. Twenty firms exited\u00a0China as a response to these bans.<\/p>\n<p>On the other hand, China is closest to releasing its own CBDC.<\/p>\n<p>China Securities News stated China\u2019s attitude towards cryptocurrency mining as:<\/p>\n<p>\u201cThey have large energy consumption and carbon emissions, low contribution to the national economy, and limited driving effect on industrial development and scientific and technological progress.\u201d<\/p>\n<p>Guangdong Province in China strongly advocates this approach towards virtual currency mining. Today, Guangdong officials discovered a hidden mining facility within their province for the first time.<\/p>\n<p>The mining hub was hidden in an electric vehicle charging station, and officials seized more than 190 professional mining machines worth more than 5 million yuan in a raid. The operator of the mining hub rented the electric vehicle charging station by giving the name of a high-tech company and used the charging station as a cover for the massive energy spent during mining.<\/p>\n<p>At the time of confiscation, the hub had been active for more than 1,000 hours and consumed more than 90,000 kilowatts of electricity.<\/p>\n<p>Under the campaign against virtual currency mining, Jieyang City raided another hub within their province and seized 916 mining devices on February 26th.<\/p>\n<p><h2>Get your daily recap of Bitcoin, DeFi, NFT and Web3 news from CryptoSlate<\/h2>\n<\/p>\n<p>It&#8217;s free and you can unsubscribe anytime.<\/p>\n<h2>Get an Edge on the Crypto Market \ud83d\udc47<\/h2>\n<p>Become a member of CryptoSlate Edge and access our exclusive Discord community, more exclusive content and analysis.<\/p>\n<p>  <strong>On-chain analysis<\/strong><\/p>\n<p>  <strong>Price snapshots<\/strong><\/p>\n<p>  <strong>More context<\/strong><\/p>\n<p> Join now for $19\/month Explore all benefits<br \/>\n<br \/><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/cryptoslate.com\/chinese-officials-take-down-crypto-mine-worth-5-million-yuan\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>China\u2019s approach towards \u201cfree cryptocurrencies\u201d has been evident through its many actions. For example, even though the country is responsible for more than 10% of all Bitcoin transactions, they also banned crypto fundraising and mining. Twenty firms exited\u00a0China as a response to these bans. On the other hand, China is closest to releasing its own [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":2459,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[3],"tags":[],"class_list":["post-2458","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum-news"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/2458","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2458"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/2458\/revisions"}],"predecessor-version":[{"id":2460,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/2458\/revisions\/2460"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/2459"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2458"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2458"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2458"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}