Electricity

A developer and minor criminal steals 600 Bitcoin mining units and eludes on an aeroplane together with his country's leader. This story appeared like it was copied directly from the pulp fiction. Currently, this is Iceland's "Big Bitcoin Heist."

The Canadian province of Québec has prepared a proposal to cryptocurrency miners. The local government had earlier been pressured to tackle the issue of electricity consumers with the help of cryptography as far as blockchain technology is concerned since they were highly demanding much power that it could supply.

Chinese police in Anhui Province have captured over 200 computers used to mine Ethereum and Bitcoin cryptocurrencies after a man tried to defraud the electricity company to escape the bills he used to power his operation, the Xinhua news agency reported on June 22.

Officials of the Communication and Public Information Department at the Rivne Regional Office of the National Police of Ukraine have been engaged in the mining of digital currency directly in the workplace for 4 months, the Rivne City Court said in a resolution.

Today, problems such as a lack of access to electricity and the Internet, as well as high levels of poverty, don’t allow people to afford smartphones or tablets, leaving billions of people without the advantages of the modern world. This also causes a lack of understanding around technology and finance. Most of the solutions and platforms do not give solutions to this problem.

Police in north China’s Tianjin municipality have expropriated 600 Bitcoin mining computers after a local power grid reported faulty electricity consumption. The Local Police on Tuesday said that eight high-power fans were captured and that it was the biggest power theft case in recent years. Five people are currently under investigation and one has been placed in custody in the Tianjin case.

The Australian Federal Police (AFP) has placed two workers of the Bureau of Meteorology under investigation for illegal usage of the institution’s super-powerful equipment for mining different cryptocurrencies. There have been no charges yet but the investigation is ongoing.

One of the biggest thefts ever recently happened on the Icelandic cryptocurrency market. 600 powerful computers that mined Bitcoins and some other digital currencies were stolen. 11 suspects have been arrested so far in connection with this nefarious incident.

The inhabitants of Iceland are the first to consume more electricity on mining cryptocurrencies than on household needs. Perhaps it was possible due to magma-fuelled power plants. Volcanoes supply the island with a cheap and copious form of renewable energy.