The Civil Guard has arrested two men, Spaniards aged 30 and 53, in Crevillente as alleged perpetrators of a crime of fraud of electric fluid, worth 24,657 euros. Inside the house a cryptocurrency mining farm was hidden, in an annex, with a large number of processors, computers and sophisticated, which was what caused the great energy expenditure.
Agents from the Crevillente Research Area began an operation last June, to try to find out what was behind the excessive consumption of electricity, carried out by means of an illegal coupling, in a house located in a rural area of the municipality. During the surveillance carried out, it was found that the thermal emission given off was very high, comparable to that of an industrial warehouse at full capacity, and that in addition it had some turbines to be able to cool the entire interior of the house.
The agents, accustomed to the fact that such excessive costs of electricity are due to the fact that a large number of marijuana plants are grown inside, were surprised to discover what the house was really hiding.
And it is that at the entrance and registration of this country house the Civil Guard found not a plantation, but a cryptocurrency mining farm, habitually used as a habitual means of payment in illicit activities related to technological crimes and money laundering. In total, 8 processors, 100 graphics cards, 1 laptop and sophisticated cooling and smoke extraction equipment were located.
Given the complexity of the events, specialists in technological research from the Organic Unit of the Judicial Police of the Alicante Command visited the place to analyze their manufacture and use.
The two men were finally arrested as alleged perpetrators of a crime of fraud of electricity. They have been made available to the Elche Investigating Court, and for the moment they have been released with charges.
The creation of new cryptocurrencies through mining
Cryptocurrency mining refers to the process necessary to validate the operations carried out using this type of digital asset. For example, if we take the practical case of a bitcoin coin, its mining would be based on the validation and recording of transactions in the blockchain. In short, mining cryptocurrencies means successfully solving the mathematical problems that arise. The miners that carry it out obtain newly minted cryptocurrencies in exchange, thus managing to put the new cryptocurrencies into circulation.
Eddie is an Australian news reporter with over 9 years in the industry and has published on Forbes and tech crunch.