China prohibits the electricity supply to mining pools

Power stations under the control of the Sichuan Electric Grid Company will have to stop supplying electricity to Bitcoin miners
14 November 2017   991

The Tencent Finance received a circular from the Sichuan Electric Grid Company, sent to the mining companies in the region.

The document says that the mining of bitcoins is illegal activity, and therefore the hydroelectric power stations under the control of the SEC will have to stop supplying electricity to such enterprises.

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Chinese miners explained to Tencent Finance that they are talking about hydroelectric power stations under the management of the Sichuan Electric Grid Company, and the regulation does not apply to small hydro power stations that are rife with the region.

But the miners are afraid that the SEC will continue to buy up small HPPs and they may find themselves without electricity for mining.

The Chinese province of Sichuan is a region rich in water resources. The hydropower stations in the province have excess capacity, which makes the cost of electricity very low. Most of the mining enterprises in China are located in Sichuan, as well as similar in characteristics of Inner Mongolia.

Miners Arrested in 2 Chinese Cities For Power Theft

Six people were detained in Tianjin and two in Wuhan
25 April 2018   91

Bitcoin miners were arrested in two Chinese cities on charges of stealing electricity. This is reported by CoinDesk.

In the first case, 6 people were detained in Tianjin. The suspects used 600 devices for mining bitcoins that were connected to a local substation. The police claim that the connection was made bypassing the counters.

The investigation was initiated after one of the electric power companies discovered a discrepancy between the actual and claimed consumption of electricity.

The police seized all equipment for mining, as well as 8 powerful fans.

Events are taking place while China continues to play a dominant role in the mining of bitcoin, despite the pressure on the cryptocurrencies. As Xinhua notes, this case of electricity theft turned out to be the largest in recent years.

According to another report, which appeared today on the website of the Supreme Prosecutor of China, two more suspects were detained in Wuhan. They also stole electricity.

The detainees used empty stores since March 2017 to house miners and did not pay for electricity, as did the defendants from Tianjin.