The Chinese law enforcement officials recently discovered an illegal and secret Bitcoin mining operation in what appeared to be an underground burial site. The police in China is still investigating on the issue but the BTC mining operation was located in tombs.
As we can see from the reports by Beijing News which are now viral in the cryptocurrency news, on May 31 the police in China found the illicit mining operation in the northern Chinese city of Daquing. More precisely, the law enforcement officials found the BTC mining equipment set up in what appeared to be two burial mounds in the surrounding fields.
You can see more details about the exact location of the secret Bitcoin mining operation on the photo below.
What is also interesting is that this secret Bitcoin mining project used stolen electricity. The police investigated the area after a local oil firm told them about unexplained power losses. Then, the officers found an entrance to the mounds in the vicinity and (after doing some digging) discovered the hardware which was running on stolen electricity.
The local media also had a say and reported that earlier that week, the Chinese police found 54 secret Bitcoin mining rigs under a dog kennel in the same county, located in the Heilongjiang province.
As the crypto prices are going up and as the Bitcoin news show BTC attempting a run to $10,000 again, the value of crypto is greater. We can see that people are willing to get in the crypto mining business for whatever cost – and the Chinese seem to be hiding while stealing electricity.
However, what remains to be resolved is the regulation of crypto in China. The government of the province of Sichuan recently announced that all local firms must cease their cryptocurrency mining operations. According to a study by Cambridge University, the province is responsible for 10% of the global Bitcoin hashrate.
Meanwhile, the price of Bitcoin (BTC) now is at $9,591 with less than one percent of gains on the day. Ether (ETH), which is on the second position, has impressive gains of over 2% which now position it at $240.
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