More than 2,100 Bitcoin Mining Machines Auctioned by Chinese Local Court
Chinese local court has auctioned 2100 government seized Bitcoin mining machines.
The mining machine models on auction involved S9, S7, V9, T9+, Avalon 851, Avalon 6.01. of which there are more than 450 S9 units. These machines were seized from miners who were caught stealing electricity to mine Bitcoin and have been sentenced to up to 13 years in jail for that.
All the BTC seized were paid to the electricity company as compensation, reported cnLedger.
As for the mining machines, they were auctioned with a reserve price of only about 10,000 yuan ($15,000 USD) with a deposit of 2,000 yuan, and a price increase of 200 yuan.
The final price has been 702,600 yuan (about $108,850 USD) with hundreds of bidders looking to get their hands on the machines.
“The batch of mining machines has many models and different colors. It is not sure whether it can be used,” reads the rough translation of the special statement. It further says the bidder can see the samples on the spot with no guarantee from the court and “the buyer shall pick up the relevant items by himself at his own expense.”