An IT company in Armenia has been accused of illegally accessing electricity and using it to undermine cryptocurrencies.
USD 150,000 in energy
On September 21, in an announcement from the Armenian National Security Service, the organization accused an IT company of illegally mining cryptocurrencies from inside a hydroelectric plant.
The state agency reported that the IT company had installed cryptocurrency mining equipment inside one of the hydroelectric plants operating in Armenia and, as a result, illegally consumed 1.5 kilowatt-hours of electricity – with a local value of more than USD 150,000— over the course of 1.5 years.
Illegal crypto mining in China
Cointelegraph reported in September that regulators in the Chinese autonomous province of Inner Mongolia issued a notice demanding a cleanup of crypto mining companies in the province.
Several departments within Inner Mongolia determined the need to rectify the mining industry within the province. The organizations named were the Development and Reform Commission, the Department of Public Security, the Office of the Ministry of Industry, the Financial Office and the Big Data Office.
At the end of May, according to reports, China was responsible for 70% of BTC's global mining. At that time, reports emerged that Chinese regulators were investigating illegal mining operations in Sichuan, a province responsible for 70% of China's Bitcoin mining (BTC) thanks to the generation of electricity from the Dadu river basin.
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