Over 10,000 cryptocurrency mining machines were seized by Chinese officials from a retail park in Inner Mongolia.
This is China’s National Development and Reform Commission’s (NDRC) first bust since the government strengthened its grip on cryptocurrency trade and mining a few days ago.
On Monday, Chinese state media stated that officials got information on a crypto mining business in a retail park warehouse in Inner Mongolia. Officials responded and searched the area, locating 10,100 mining equipment that were later confiscated.
While past restrictions appeared to target publicly traded mining companies, authorities are now directing their attention to smaller mining activities that have managed to fly under the radar.
Sparkpool, the world’s second-largest Ethereum mining pool, has ceased operations due to China’s escalating crypto crackdown.
On Monday, the mining pool publicly declared that it had blocked access to new members in mainland China in reaction to Chinese authorities launching new measures to curb cryptocurrency adoption in the nation.
Following the initial restrictions imposed last Friday, Sparkpool will continue to stop services and will suspend current mining pool users in China and abroad on Thursday.