China’s Inner Mongolia Snags 10,100 Mining Rigs From Government Tech Park

Inner Mongolia region seized 10,100 crypto mining rigs from a government-operated tech park.

According to local news, a branch of the Development and Reform Commission in Bayannaoer city found the mining rigs at the park.

The move comes just a couple of days after China’s central bank announced a new crackdown on crypto trading and mining. China’s regulators banned investment in new mining operations, saying all existing projects should go.

To clarify, this action brings Inner Mongolia’s total to 45 mining projects to stop operating. As a result, the regulators said this closure saves the province 6.58 billion kWh of electricity. Looking at this, the report noted that this could be 2 million tons of coal a year.

Moreover, the reports say that the mining was consuming 1,104 kWh. Besides, it happens at the small and medium enterprises Pioneer Park located in the city’s Economic and Technological Development Zone.

On Friday, central authorities urged regions and cities to stop all support of cryptocurrency mining firms, which include any unusual treatment provided to firms working in a government tech park.

In May, after the State Council called on local governments to crack down on crypto mining, Inner Mongolia came up with a plan to shut down the industry just days later.