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tim...[_2_] tim...[_2_] is offline
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Default Bitcoin Mining Operation Is Uncovered During U.K. Drug Bust

"Paul" wrote in message
David P wrote:
Bitcoin Mining Operation Is Uncovered During U.K. Drug Bust
By Davies & Ostroff, 5/28/21, Wall St. Journal British police got a shock
when they raided a suspected illegal cannabis farm this week: Instead of
halogen lamps & weed, they found about 100 computers mining bitcoin.

Officers from the West Midlands Police forced entry into the warehouse in
an area west of the city of Birmingham known as the Black Country with a
drug warrant, after intel suggested it was being used to grow the illegal

Unusual amounts of wiring & ventilation were visible on the outside of
the building & a drone had measured high levels of heat rising from
it€”classic signs of a cannabis factory. But the officers broke in to
discover a huge bank of computers in what they now suspect was a
cryptocurrency mine.

They also found that the computers used stolen electricity by tapping
directly into the power supply outside of the warehouses circuits.
Police said the mine consumed thousands of pounds worth of electricity.

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

I don't get how this crypto mining lark is allowed to continue by regulators

where's the underlying assets that props up the value of this new intangible
thing you have created?