News

Chinese customs seize 49 old bitcoin mining rigs

Chinese authorities continue to crack down on bitcoin mining gear after seizing 49 used Bitmain Antminers ASICs from unnamed individuals who recently attempted to smuggle them with private funds.

Devices are to be handled according to regulations

Huangpu Customs, in Guangdong province, China, said they had seized 49 used Bitcoin mining machines from an unnamed party trying to smuggle the equipment into the country. Local reports indicate that old devices should be disposed of in accordance with local regulations.

The suspected smugglers used false information in their export documents, according to a report published on Monday. However, during the inspection, the authorities found that the shipment did not contain shoe materials as stated in the “export documents”, but old ASIC mining machines.

The arrest comes just days after another Chinese regulator, the Shandong Development and Reform Commission (SDRC), announced the release of a document titled “Report on Virtual Currency Mining Activities.”

According to China-based website 8btc, the regulator has reportedly begun monitoring phone lines to “regulate” crypto mining activities at the provincial and municipal levels.

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Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.

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