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China Pursues Illicit Crypto Miners, Raises 20 Government Offices: Report

December 16, 2021
Source: usnews18.com usnews18.com
News Snapshot:
According to the report, one mining operation in Wenzhou City, Zhejiang Province relied on the resources of a vocational and technical college to power four mining rigs with 32 graphics cards, which are believed to have earned 2.4 ETH over about four months. China has offered a few other reasons why it’s cracking down on crypto mining as well. Perhaps the foremost is the tried-and-true “because I said so” that parents and authoritarian regimes alike can fall back on whenever their motives are questioned. But the most oft-cited reason why China has banned crypto mining is the practice’s environmental impact....
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Tags: agreement | bank | bitcoin | blockchain | book | China | Chinese | college | crypto | cryptocurrency | currency | development | Economy | education | finance | fintech | India | Internet | Paris | Renminbi | Sina | Sweden | technology | Yuan | Zhejiang

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