China shuts Sichuan’s stealth Bitcoin mine

bitcoin

Authorities in China said they have discovered and closed down a Bitcoin mining hiding at a hydropower plant.

The Bitcoin mine was discovered in China’s Sichuan province.

Economic and Information Bureau in Garze area where the hydro plant was constructed said they would not release more information because of an ongoing investigation.

Apparently, in China, it is illegal to start a Bitcoin mine without authorization from the Chinese government which has to be filed with the local authorities in the province.

Under Chinese law, outsider or call it foreigners are not allowed to invest in Bitcoin investment and other related businesses.

“We don’t allow outside investment in the area to be involved in bitcoin. Even for big data projects, we will conduct an investigation into the nature of the data involved before making a decision,” the Bureau said in a statement.

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