10,100 mining rigs seized from a government tech park by authorities in Inner Mongolia


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Crypto crackdown pressure China is at its peak as the authorities tighten their fists. Inner Mongolia, a province in China, Chinese regulatory authorities seized around 10,100 mining rigs from a tech park that operated under the law. A few months earlier, China placed a similar crackdown on mining rigs and farms in the country, driving many operations out of the country itself.

This action came as a result of the recent crypto crackdown that the nation had imposed on crypto-related transactions. The Chinese government has banned any trades involving cryptocurrencies, although it is one of the first to launch its very own Central Bank Digital Currency. China’s stance on cryptocurrencies is clear for the time being.

Elimination of mining rigs from China

China’s top law agencies and government agencies declared on Friday that they were bent on eliminating crypto-related activities from the nation. Since 2012, China has made innumerable attempts to ban cryptocurrency-related activities altogether. The recent incident that happened in Inner Mongolia is an example of strict Chinese policies.

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In Bayannaoer, a city in Inner Mongolia, the local Development and Reform Commission found illegal mining rigs that were immediately taken under control. Such activities by the Chinese government have pushed investors and miners out of the nations. As a result, they have taken refuge in countries like South Korea, Kazakhstan, etc.

45 mining projects forcefully closed until now

There were around 10,100 mining “machines” in the Bayannaoer Economic Development Zone SME Pioneer Park. All these machines in the mining rigs were present in a warehouse in the park that consumed around 1,104 kWh.

Until now, the province of Inner Mongolia has been responsible for the closure of 45 mining projects. According to the data provided by the authorities, this forced closure saved about 6.58 billion KWh which is equivalent to 2 million tons of coal.

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