TL;DR Breakdown
• The BTC miner caused the loss of over €32000 in energy.
• The criminal will spend more than a year in prison.
Cryptocurrency mining boosts the economy, but this has created crimes such as stealing energy. Recently a BTC miner from England was jailed for stealing a good amount of energy and using it in crypto-mining.
The man reportedly had two underground crypto-mining farms in which he used to mine Bitcoin using the city’s energy. The man was caught while trying to remove the machines he was working with. However, the damage he had caused to the electrical source has been done.
BTC miner trapped in England
As in many countries globally, England does not have a law stating that cryptocurrency mining is prohibited. However, the authorities ask citizens to justify this Bitcoin mining work to pay for their daily energy. A BTC miner tried to evade these laws by mining BTC and stole €32000 in electricity bills.
For some time, the investigation agency in England opened a case about clandestine crypto-mining operations, surprising Sanjay Singh in this work. The BTC miner was less than 100 miles from the capital city and was stealing electricity from a nightclub in Loughborough. However, according to the agents, this was not the new crypto-mining farm that Singh owned because he also mined BTC from an industrial location a few miles from the club.
The man takes advantage of the fact that both areas are not working. However, he did not think he would be caught on the spot, which was also a great surprise. According to the agents’ opinions, Sanjay only took advantage of free energy and, at all costs, avoided registering his crypto-mining operations with the authorities.
Crypto-mining uses a fair amount of electricity
Although crypto-mining is an interesting job for the profits it offers, it is a very expensive process. BTC mining farms not only need powerful processors to de-encrypt the tokens, but this also uses a lot of energy, more than an average house or apartment.
The BTC miner was caught by a surge that was reported northwest of the capital city. The agents corroborate this additional tension was caused by a club closed for the summer, which turned out to be confusing. Therefore, the investigating authority requested a search warrant where Singh was found with the machines.
Agents revealed that the BTC miner had around 200 machines in operation between the two clandestine farms. Singh spent more than a year in prison based on this apprehension, and all crypto machines were confiscated.
