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See also Bitcoin mining machine stealing electricity case! Stealing 40,000 degrees a day
Brokerage China Wang Junhui
Since the second half of 2018, with the decline of bitcoin price and the difficulty of mining, the profit of mining work has become increasingly meager, and many miners have taken risks and started to steal electricity. Especially around 2018, there have been many cases of bitcoin mining machine stealing electricity in China.
Recently, Henan Pingdingshan police cracked a "bitcoin mining machine" thief case, on the spot seized more than 1,700 bitcoin mining machines, transformers, power distribution cabinets, distribution boxes. According to preliminary estimates, the tampering dens steal nearly 40,000 kWh of electricity a day. Rough statistics, the amount of electricity that can be stolen in a day can be used for a family of three (calculated by a three-person household with an annual electricity consumption of 1000 degrees) for 40 years.
Recently, the National Development and Reform Commission issued the "Industrial Structure Adjustment Guidance Catalogue (2019, Draft for Soliciting Opinions)".The “virtual currency ‘ mining” activity (the production process of virtual currency such as Bitcoin) is listed as a phase-out industry.The elimination categories are mainly backward processes, technologies, equipment and products that do not meet the requirements of relevant laws and regulations, do not have safe production conditions, seriously waste resources, pollute the environment, and need to be eliminated.
Stealing nearly 40,000 kWh a day for 40 years for a family of three
According to the State Grid Pingdingshan Power Supply Company, data analysis in the recent period shows that there may be tampering behavior in the 200 kVA transformer station area that the city's electricity user name is Changsheng Stationery.
On the morning of April 3, more than 20 public security personnel and more than 10 power supply professionals conducted a surprise power check on an abandoned factory building in Jiulishan Street, Zhanhe District. On the spot, they verified their electricity theft and controlled 2 suspects on the spot.
It is reported that dozens of cables in the factory are scattered on the ground, and the steel frame in the house is directly roofed. There are 12 layers in the horizontal direction and 13 intervals in the vertical direction. More than 1,700 bitcoin mining machines are stacked. According to preliminary calculations, the stolen electricity dens steal nearly 40,000 kWh of electricity a day. If the annual electricity consumption of a family of three is 1000 degrees, the amount of electricity that can be stolen in a day can be used for a family of three for 40 years.
According to relevant personnel, the cases that were cracked were among the largest in the company's power supply area, and the power consumption of more than 1,700 mining machines was equivalent to several large communities. In addition, the suspect's residence is running bitcoin trading software, and the bitcoin dug out can be realized in real time through this trading platform. Pingdingshan Power Supply Company said that since 2018, the company has jointly seized 21 cases of similar "mining machine" burglaries.
Stealing electricity frequently, there are cases involving a million cases
Since the second half of 2018, as the price of bitcoin has fallen and the difficulty of mining has increased with the decrease in the number of bitcoins, the profit of mining work has become increasingly meager. Many miners have taken risks and started to steal electricity. Especially around 2018, there have been many cases of bitcoin mining machine stealing electricity in China.
In May 2018, the Public Security Bureau of Kaiping District of Hebei Province arrested the Kaiping District People's Procuratorate with Wang Jinmou and others for theft. According to the Kaiping District People's Procuratorate, the criminal suspect Wang Jinmou rented a compound in Kaiping Beihuan Road in December 2017, raised funds to purchase 110 bitcoin mining machines, and sent the power to the country privately. On the high-voltage line of the network, the method of stealing electricity is used to mine bitcoin. Later, the criminal suspects Zhao, Zhou, Wang Chunmou, Zou Moumou, and Zheng Mou successively placed their bitcoin mining machines in the compound to be managed by Wang Jinmou to steal electricity. On March 12, 2018, it was jointly seized by the Kaiping District Public Security Bureau and the power supply department. The amount of electricity stolen by Wang Jinmou and other people who have been certified by the price department is worth more than 69,000 yuan. On May 21, 2018, Wang Jinmou and Zhao were arrested in accordance with the law for alleged theft.
In the above cases, the calculation of the amount of electricity theft is a difficult point in this type of case. The case handlers analyzed the operation process of the bitcoin mining machine and related electronic data analysis and found that the bit can be determined by calculating the time of the bitcoin mining machine. The running time of the coin mining machine, multiplied by the unit power consumption, can be used to obtain the actual power consumption of each bitcoin mining machine. After the price certification, it is used as evidence to determine the amount of electricity theft.
A few days ago, the People’s Government of Chenzhou City also announced a number of “bitcoin mining” thieves. According to reports, in January this year, the staff of Zhangzhou Power Supply Company cracked a bitcoin mining machine thief case, and seized more than 1,000 bitcoin mining machines and two 1000 kVA transformers. The criminal police officers of the Public Security Bureau of Cangzhou City arrested four suspects in Anhui, Jiangxi and Jilin respectively, and the case is currently under investigation.
At the beginning of April, Shaanxi Sanyuan County Public Security Bureau said that it had detected a major Bitcoin mining and thief case. The criminal gang in this case had stolen more than 2 million kWh, involving more than one million yuan. On February 15, the Sanyuan County Public Security Bureau received a report from the State Grid Shaanxi Power Supply Company Xi'an Yanliang Branch Company that an idle factory area in Zhaoqu Village, Du Li Town, Sanyuan County was suspected of stealing millions of degrees. After receiving the police, the police of the Interpol Brigade immediately rushed to the scene and found that there was no one in the factory. There were more than a thousand "bitcoin" mining machines and large transformers in the workshop, which were suspected of stealing electricity. On March 1, the police successfully arrested the criminal suspect Zhang Moicai in Liquan County. After interrogation, the police arrested several suspects. After investigation, the gang had stolen more than 2 million kWh, involving more than one million yuan.
It should be pointed out that those who commit serious electricity theft will constitute a crime. Article 71 of the Electricity Law of the People's Republic of China stipulates that if electricity is stolen, the power management department shall order it to stop the illegal act, recover the electricity fee and impose a fine of not more than five times the electricity fee; if it constitutes a crime, it shall be in accordance with the one hundred and fifty-five of the Criminal Law. The provisions of Article 11 or Article 152 shall be investigated for criminal responsibility.
“Mining” became a backward industry and was repeatedly stopped.
Bitcoin is produced through “mining”. The so-called “mining” is actually to solve the same math problem together. This problem requires a certain amount of calculation to be done, and it can be the first to get the answer. Miners can share "bitcoin" rewards.
"Mineral machine" is a special computer that earns bitcoin by running an algorithm. Such computers generally have professional mining chips, and work in a large number of graphics cards, which consumes a large amount of electricity. In recent years, with the rapid increase in the price of bitcoin transactions, more and more people are beginning to exploit bitcoin to gain interest by buying bitcoin mining machines. Because the main cost of bitcoin mining is high electricity bills, some people take the risk of stealing electricity in order to obtain illegal benefits. This kind of electricity theft has seriously disrupted the power management order and caused a major loss of electricity to the country.
A few days ago, the National Development and Reform Commission issued the "Industrial Structure Adjustment Guidance Catalogue (2019, Draft for Soliciting Opinions)", and listed the "virtual currency ‘ mining” activity (the production process of virtual currency such as Bitcoin) as a phase-out industry. The elimination categories are mainly backward processes, technologies, equipment and products that do not meet the requirements of relevant laws and regulations, do not have safe production conditions, seriously waste resources, pollute the environment, and need to be eliminated.
This is not the first time the “mining” industry has been officially denied.
Since 2017, mines in Sichuan, Xinjiang and other places have received notices of closures. In January 2018, the Mutual Gold Rehabilitation Office stated that “virtual currency mining” enterprises, while consuming large amounts of resources, also contributed to the “virtual currency” investment speculation. There are two requirements for virtual mining mining: First, actively guide enterprises within the jurisdiction to withdraw from the "mining" business in an orderly manner, and please actively coordinate the relevant departments within the jurisdiction, and take multiple measures to comprehensively adopt electricity prices, land, taxes and environmental protection. Measures to guide relevant enterprises to orderly withdraw. Second, in order to keep abreast of the progress of work in various places, the local rectification office is required to fill in the relevant information on the “mining” enterprises within the jurisdiction before the 10th of each month.
In the second half of 2018, the Xinjiang Uygur Autonomous Region Economic and Information Technology Commission issued the "Notice on the Retirement of Unauthorized Electricity Mining" Enterprises, Requiring the Retirement of the Responsible Power "Drilling" Enterprises as the Power Generation Enterprise, and Before August 30, 2018, the company will complete the retiring work of illegal mining “mining” enterprises. The scope of retreat includes: 1. Unauthorized “mining” enterprises that fail to go through the formalities of industrial and commercial registration, tax registration, social security and other insurance in accordance with national laws and regulations; 2. Non-regular electricity use that has not signed a contract with local power supply companies for electricity use. "Mining" enterprises.
Three major mining machine companies seek listing
In recent years, with the soaring price of bitcoin, the original small-scale activity of “mining” has also begun to enter the public's sight. In particular, in 2018, the three major domestic mining machine manufacturers Bitian, Jianan, and Yibang International were seeking to go public in Hong Kong. The relevant prospectus also disclosed the details of mining machinery manufacturing and mining.
However, from the current situation, after the three major mining companies submitted their listing applications, the digital currency market also turned downwards, which has been in a downturn, and even fell below the start-up cost of the mining machine. Some mines were closed and the mining machine was slow-moving. The profit is no longer.
Bitcoin's prospectus disclosed in the Hong Kong Stock Exchange in September 2018 shows that in the first half of 2018, Bitland's total revenue reached 2.845 billion US dollars, accounting for 74.5% of the global mining machine chip market; net profit was 742.7 million US dollars, year-on-year. It grew by 795% and its net assets exceeded $16.17 billion.
The second submission of Billion International shows that in the first half of 2018, Yibang International realized revenue of 2.138 billion yuan, an increase of 8 times over the same period of last year, and achieved a net profit of 932 million yuan. In the same period of 2017, the net profit was about 52.24 million yuan.
In the prospectus disclosed by Billion International in December 2018, although the Bitcoin mining machine customer has determined that the average monthly new contract value of the purchase order has increased slightly from the second quarter, it has averaged from the third quarter of 2018. The value of the new contract has fallen sharply, and the third quarter earnings and gross profit fell sharply.
From the latest developments, Bitcoin internally said on March 26 that the IPO application submitted on September 26 last year will expire in the near future, and will resume its listing at an appropriate time in the future.
Editor in charge: Robot RF13015
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