China Intensifies Hunt For Cryptocurrency Miners In Hiding

An anonymous reader quotes a report from Bloomberg: China's campaign against the cryptocurrency industry is now targeting miners who tried to disguise themselves as data researchers and storage facilities to stay in business, according to people with knowledge of the situation. Inspections intensified this month in several Chinese provinces, targeting illegal mining activities in colleges, research institutions and data centers, said the people who asked not to be named due to the sensitivity of the matter. Concern over the country's power supplies for the upcoming winter season is one reason for the urgency, they said. The new round of scrutiny could further depress the amount of crypto mining occurring in China, which for years had been the dominant player and as recently as April had a 46% share of the global hash rate, a measure of computing power used in mining and processing, according to the Cambridge Bitcoin Electricity Consumption Index.

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