Illegal 10,000-Device Crypto Mining Farm Uncovered in Russia
Local media outlet Bits reported that an illegal cryptocurrency mining farm consisting of 10,000 devices was uncovered by authorities in two cities in Russia's
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- Local media outlet Bits reported that an illegal cryptocurrency mining farm consisting of 10,000 devices was uncovered by authorities in two cities in Russia's
Local media outlet Bits reported that an illegal cryptocurrency mining farm consisting of 10,000 devices was uncovered by authorities in two cities in Russia's Ural region.
The equipment at this mining farm was found to have been secretly hidden inside industrial facilities. By manipulating power meter readings, the operators illegally consumed more than double the permitted power limit. This illegal power usage resulted in damages amounting to approximately 1 billion rubles ($13.89 million) and even caused power outages in nearby areas.
Authorities have arrested three suspects involved in operating the mining farm and are continuing their investigation. The media outlet added, "Crackdowns are continuing, with smaller-scale mining farms recently being uncovered in other regions of Russia as well."
Previously, Russian authorities recommended a ban on cryptocurrency mining in certain regions out of concerns over power waste and supply shortages.