Police Discovers Cryptocurrency Mine Worth $50k+

We often hear about cryptocurrency mines (or farms) where dozens of teams are only focused on mining the most popular digital currencies, such as Bitcoin and Ethereum. These teams have dozens of graphics and are a contributing factor to the present GPU scarcity.

The National Police (Spain) went to investigate a suspected marijuana farm in the Sevillian town of Santiponce. However, they instead found a cryptocurrency mine with 22 sets of apparatus worth more than $50,000.

High electricity use led police to inspect the property. An electrician discovered electricity fraud totaling roughly $2,200 per month, leading to police action.

Cryptocurrency Mine

What the police found instead of the predicted marijuana crop (because of the excessive power usage) were 21 ASIC machines dedicated only to Bitcoin mining with an estimated worth of about $50,000+ of equipment. Both groups were using EVGA’s high-end graphics cards; seen in the photographs provided by the authorities.

Image Courtesy of Policia Nacional Interior

A similar incident occurred in Toledo, Ohio, in August, when another cryptocurrency mine illegally connected to an electric company in order to reap financial rewards.

GPU Prices 2022

This is a good time to remind you that the graphs are steadily decreasing their value in the early weeks of 2022, driven once again by the decline in the value of crypto assets owing to Russian regulation concerns and other seasonal reasons. With this move, Ethereum will no longer utilize GPUs in its mining process, making visuals also less appealing to miners as they become less energy efficient.

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