Chinese authorities have seized nearly 7000 crypto mining machines that are illegally consuming electric power, really hope this won't affect bitcoin in any way? And why are people doing this? Prove of staking is a better option and no one will ever know you are mining anything, i am not saying POW miners are bad but illegally? Come on! It's not worth taking such risk when they know they can be caught, they can earn same profits from Staking
Full news is right here
https://cointelegraph.com/news/chinese-authorities-confiscate-nearly-7-000-crypto-mining-machinesIt will surely affect the mining society but as what they did, I know that they are already prepared to it as mining illegally is not a good option also.
It is like earning a money by stealing electricity without paying a bucks to the owner, I hope they learned from it so it will not happen again.
And the best area to put mining gigs are in the country in which electricity is very affordable so you don't need to steal an electricity instead you will earn a good profit while paying the electricity that you have used.