Sunday, June 20, 2021
Home Technology Drug-Busting UK Cops Bust Illegal Bitcoin Operation Instead

Drug-Busting UK Cops Bust Illegal Bitcoin Operation Instead


Drugs police in central England spotted the tell-tale signs of a cannabis farm: visitors at all hours, extensive wiring, ventilation ducts and unusual amounts of heat being generated.

But on closer inspection, they exposed another operation reliant on massive power usage: a cryptocurrency mine that was stealing electricity from the national grid.

A raid by West Midlands Police uncovered the illicit operation at an industrial estate Northwest of Birmingham, Britain’s second city.

“It’s certainly not what we were expecting,” Sergeant Jennifer Griffin said Friday.

“It had all the hallmarks of a cannabis cultivation set-up and I believe it’s only the second such crypto mine we’ve encountered in the West Midlands.”

Police believed this operation was mining Bitcoin, she added.

The site housed around 100 computers and had bypassed electricity meters. It was empty at the time and no arrests were made, but police said they were investigating the unit’s owner.

Mining cryptocurrency is a hugely energy-intensive process requiring large amounts of electricity in giant data centres.

Bitcoin mining alone uses the same amount of electricity a year as Switzerland does, according to Deutsche Bank analysts.

Iran’s President Hassan Rouhani on Wednesday announced a four-month ban on all cryptocurrency mining, after his energy minister apologised for unplanned power cuts in major cities blamed on unlicensed miners.

In mid-May, entrepreneur Elon Musk’s Tesla stopped accepting bitcoin as payment for its electric cars, citing concerns about the harmful environmental effects of mining cryptocurrencies.

As of May 29 (11:33am), Bitcoin price in India stood at over Rs. 26.8 lakhs.


It’s Google I/O time this week on Orbital, the Gadgets 360 podcast, as we discuss Android 12, Wear OS, and more. Later (starting at 27:29), we jump over to Army of the Dead, Zack Snyder’s Netflix zombie heist movie. Orbital is available on Apple Podcasts, Google Podcasts, Spotify, Amazon Music and wherever you get your podcasts.

Cryptocurrency Prices across Indian exchanges

For the latest tech news and reviews, follow Gadgets 360 on Twitter, Facebook, and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel.

Apple Podcast Subscription Service Launch to Be Delayed Until June





Source link

RELATED ARTICLES

How to Book COVID-19 Vaccine via Paytm App

Looking for an easy way to book COVID-19 vaccine? You can use Paytm. The Paytm app can help you book COVID-19 vaccine...

How to Transfer Contacts From Android to iPhone

Switching from an Android phone to an iPhone can be a daunting experience. It's a whole different ecosystem, one that is more...

How to Play YouTube Video in Picture-in-Picture Mode on iOS

iPhone or iPad users can enjoy YouTube videos in picture-in-picture mode, just like Android devices. You don't need to have the YouTube...

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Saudi Aramco representative may be on Reliance board? – Times of India

NEW DELHI: Saudi Aramco chairman and Governor of the Kingdom's wealth fund Public Investment Fund, Yasir Al-Rumayyan, may be inducted on the board...

How to Book COVID-19 Vaccine via Paytm App

Looking for an easy way to book COVID-19 vaccine? You can use Paytm. The Paytm app can help you book COVID-19 vaccine...

SEBI asks PNB Housing to halt Rs 4,000 cr preferential issue of shares – Times of India

MUMBAI: The Securities and Exchange Board of India (SEBI) has directed PNB Housing Finance to stall the proposed preferential issue of shares worth...

How to Transfer Contacts From Android to iPhone

Switching from an Android phone to an iPhone can be a daunting experience. It's a whole different ecosystem, one that is more...

Recent Comments