The Chinese region of Inner Mongolia is urging members of the public to report all cases of cryptocurrency mining, setting up a reporting hotline, an office address and an email address to solicit tips for law enforcement authorities.
Fast Facts:
- Once a hotbed of Bitcoin mining, Inner Mongolia banned all kinds of mining activity in April amid a push against carbon emissions.
- The government is on the lookout for crypto mining, companies disguised as cloud data centers that are engaged in mining, businesses providing crypto miners with premises in which to carry out their activities, and companies obtaining electricity illegally to mine crypto.
- Leo Li, a sales manager at BitDeer, a Chinese crypto mining firm, told Forkast.News that BitDeer had shifted its mining rigs outside of China, and said that with more than half of the hash rate globally coming from Chinese crypto mining operations, Inner Mongolia’s ban wouldn’t have a significant effect on China’s mining sector.