Cryptocurrency miner lost millions of dollars because of cats

In Inner Mongolia, a cryptocurrency farm has turned into a shelter for stray cats — and a source of millions of dollars in losses for its owner. About two hundred animals have taken up residence in a room with mining equipment, seeking heat from the working video cards. Instead of chasing the uninvited guests away, the entrepreneur decided to set up a separate area for them, although this decision cost him significant losses.

The first cats appeared near the farm in early October, when the temperature in the region began to drop. The animals quickly settled in, preferring the mining machines as a place to sleep. As a result, the equipment overheated, reducing productivity and requiring repairs. «It's cute, but these 'beds' cost us millions of dollars,» admitted one of the farm workers.

The owner, known for his affection for animals, did not change his approach. A separate room with warm mats and insulation was set up for the cats. According to the staff, the animals have become part of the team, and the mining equipment is working more stably after the changes. The farm admits that the devices are quieter and the animals are in comfortable conditions.

This case took place against the backdrop of an official ban on cryptocurrency mining in Inner Mongolia, which has been in effect since 2021. The decision was made as part of a national policy to reduce emissions and combat financial risks. Prior to the ban, the region provided about 8% of the world’s Bitcoin mining capacity, making it one of the key centers of the industry.

The incident with the cats coincided with a new round of tensions between China and the United States over digital assets. Beijing accused Washington of involvement in the hacking of the Chinese mining pool LuBian in 2020. According to the Chinese side, more than 127,000 BTC worth about $ 13 billion were stolen.