"Officers forced entry to the premises in an industrial estate in Sandwell, the West Midlands, on May 18 after tip-offs suggested it was being used as a cannabis farm. Police heard how lots of people were visiting the unit at different times of day and lots of wiring and ventilation ducts were visible, before a drone picked up a heat source from above. They are all classic cannabis factory signs - but when officers gained entry they found a huge bank of around 100 computer units, which were understood to be a Bitcoin mining operation. The IT equipment was seized and enquiries with provider Western Power revealed the main electricity supply had been bypassed and thousands of pounds worth had been stolen. West Midlands Police said the mine was the second using stolen electricity which they had encountered. Bitcoin and other cryptocurrencies are created or 'mined' by high-powered computers which continuously solve complex mathematical puzzles in an energy-intensive process that often relies on fossil fuels, particularly coal. However, many of the computers used to mine bitcoin cost more to run than the value of the Bitcoin they create, making using stolen electricity a lucrative criminal ploy. One of the selling points of Bitcoin is that it can be used anonymously - meaning the unregulated currency is popular with criminals who have used it to buy drugs and guns."
https://www.bbc.co.u...ingham-57280115
