Police in China Seizes 4,000 Crypto Miners After Abnormal Energy Spike

China’s police confiscated 4,000 crypto mining units that were illegally deployed at nine factories. Police in China arrested 22 suspects allegedly involved in illegal crypto mining activity that led to energy loss worth of about $3 million, local media outlet XinhuaNet reports on July 12.Police in Jiangsu, China’s eastern-central coastal province, have reportedly seized 4,000 hardware units that were illegally used to mine cryptocurrency such as Bitcoin (BTC) at nine factories.According to the report, Jiangsu police launched a criminal investigation after a local power firm reported an abnormal spike in electricity consumption.…