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Theo[_3_] Theo[_3_] is offline
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Default Bitcoin Mining Operation Is Uncovered During U.K. Drug Bust

Paul wrote:
Actually, they're using Bitmain boxes, at around £3000 each.
At least £180,000 worth of mining equipment is pictured here.

At new price. Bitcoin miners have extremely steep depreciation, because the
newest ones run faster and hence generate more 'return' for the same
electricity input. Since the amount of compute to mine a Bitcoin by design
increases regularly, it doesn't take long before the cost of electricity
overtakes the yield, at which point they only really have scrap value.

Of course if the electricity is 'free' (because you're stealing it) then you
can afford to run that scrap kit for longer.

I'm surprised they didn't use the waste heat to heat a cannabis growhouse
next door - think of the synergies!