When British police raided a warehouse, they were expecting to find a cannabis farm. Instead they found banks of computers illegally siphoning the electricity needed to mine for Bitcoin.
Cops in West Midlands, England seized around 100 computer units that were working to bypass the local power grid. They discovered the warehouse after sending a drone over the site, which detected a considerable heat source.
The mining rig operation in a warehouse in Sandwell, U.K.
Source: West Midlands Police
Mining for Bitcoin devours massive amounts of power, racking up huge bills for dedicated miners. The process, which needs computers to solve complex math problems to create new coins, now uses 66 times more ...
Learn more about Bloomberg Tax or Log In to keep reading:
Learn About Bloomberg Tax
From research to software to news, find what you need to stay ahead.
Already a subscriber?
Log in to keep reading or access research tools.