Author: Gan Jia Ci
The Chinese police has recently arrested a man suspected of stealing a massive amount of power to mine Bitcoin and Ethereum, the local authorities declared on Thursday.
The police confiscated more than 200 computers that were used to mine the cryptocurrencies after local power grid operator reported an unusual amount of electricity usage in Anhui, an eastern province in China.
According to Xinhua, the Hanshan County police discovered the electricity meter for the alleged cryptocurrency mining activity was short-circuited. This was speculated to be an attempt by the suspect to evade the power bill.
The suspect, identified by his surname as Ma, had allegedly stolen 150,000 kW hours of electricity from April to May.
Ma told the police he first bought the computers back in April, hoping to make a fortune out of mining. However, he soon found out that the daily power cost over 6,000 yuan and claimed that he did not manage to make any profits from the mining operation.
This comes as no surprise, considering Bitcoin and Ethereum mining are both very power-consuming processes.
In April, a similar incident occurred in Tianjin, in which the local police confiscated 600 computers used to mine Bitcoin. According to Xinhua News agency, this has been the “largest theft case” recently.