A man in China has been sentenced to three and a half years in prison after stealing electricity from a train network in order to mine bitcoin. ...
Posted by Stealing Electricity from Trains at October 16, 2018 04:42 AMPolice in eastern China have cracked down on a ring of illicit bitcoin miners who stole nearly $3m (£2.4m) worth of electricity to generate the digital currency, prompting a local power company to tip off investigators, authorities said.
Police in Zhenjiang, in eastern Jiangsu province, said officers confiscated almost 4,000 mining devices from an illicit bitcoin operation that stole nearly 20m yuan in power. ...
Posted by Crackdown in China at July 16, 2019 12:52 AMJULY 12, 2019, 12:16PM EDT
Chinese police have confiscated approximately 4,000 bitcoin miners, xinhuanet writes. The operation was located in the Jiangsu Province in Zhenjiang and came to light after a local power company noticed heightened electricity usage. After a two-month police investigation, 22 people behind the mining operation were arrested. The gang installed the miners in nine factories it had rented. One of the suspects explained they used power theft devices in order to escape the electricity bills.
As each miner used between 25 and 50 kW hours of industrial electricity per day, the electricity theft amounted to nearly 20 million yuan (approximately $2.9 million), according to the power supply company. ....
Posted by Chinese police arrest 22 bitcoin miners whose operation used stolen electricity at July 16, 2019 12:55 AMOn Sept. 21, in an announcement from the Armenian National Security Service, the organization accused an IT company of illegally mining cryptocurrencies from inside a hydropower plant.
The state agency reported that the IT company had installed cryptocurrency mining equipment inside one of the hydropower plants operating in Armenia and as a result illegally consumed 1.5 kilowatt-hours of electricity — worth more than $150,000, locally — over the course of 1.5 years.
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