Chinese crypto miner detained: A man was detained from the Anhui Province of China for supposedly stealing 150 megawatts (MW) of power.
Chinese Crypto Miner Arrested
Neighborhood media outlet Xinhua reported the arrest now, saying that the guy, understood under the surname Ma, had over 200 computers he had been trying to mine Bitcoin (BTC) and Ethereum (ETH) with. The computers have been confiscated, together with the arrest of Ma.
Ma reported he had bought the computers back in April, oblivious of just how much it might cost him to try such a huge crypto mining performance. To his dismay, he found that it might cost him ,000 yuan, that translates to about $930 USD, every day. Ma had expected he would make a profit from crypto mining, but from the time he had been detained, he hadn’t made any money.
His answer to the cost of running each of the computers would be to short-circuit the power meter, and that’s how the police found it.
Ma’s crypto exploration procedure has been detected following the local electricity grid operator detected that an unnatural quantity of energy being absorbed and informed the authorities.
The Hanshan County police suspect that Ma might have stolen up to 150 MW since April.
>> Stock Trading App Robinhood Needs to Become a Bank
The Energy Crisis
Bitcoin and Ethereum mining absorb a great deal of energy, as was clearly found by Ma. In reality, a single peer-reviewed study considers that Bitcoin mining independently will utilize upward 0.5percent of the planet’s energy from the end of the season.
Crypto mining systems are allegedly consuming more energy than 159 nations combined.
Do you believe crypto mining is causing a power crisis? Does one must get carried out?
p Japan Crypto Crack Down: the FSA Flags 6 Native Cryptocurrency Exchanges