Big Power Theft Busted in China’s Mining Hotspot
On April 25th, Beijing‑sourcing Xinhua rattled readers with a juicy scoop from the bustling northern city of Tianjin. Police swooped in and snatched 600 computers that were quietly (or not so quietly) cracking the code on Bitcoin—plus eight high‑power fans that kept the machines humming. This isn’t just another petty theft; the biggest power‑theft case in recent years.
Why the Electric Surge?
- Mining rigs gobble electricity like a spark‑plugged monster.
- Cheapest kwh is the sweet spot—hence the saucy move to keep electricity under control.
- Local power grid operator noticed the “upstairs” surge and called in the cops.
China’s Crypto‑Mining Decline
Back in the day, China was the home base for most mining rigs worldwide. But since Beijing swung its crackdown on Bitcoin and its sidekicks, the scene’s been shifting. The Central Bank even told a top internet‑finance crew that local governments could step in and curb the power usage of miners, easing the production wave.
Current Investigation Update
In the Tianjin debacle, five folks are now under the microscope and a sixth individual is already on the detained list. The full chain of operations remains a mystery, but the authorities are tightening the screws on every techie who thinks they can roam around with massive, power‑hungry machines.
