It’s estimated that more than $260,000 of electricity was being stolen every month by the crypto farm.
A large underground crypto farm has been discovered in Ukraine, where 3,800 PlayStation 4 consoles were being used to mine digital assets.
The operation was uncovered in a former warehouse, and the farm’s operators used manipulated electricity meters to conceal their energy consumption.
It’s estimated that more than $260,000 of electricity was being stolen every month by the crypto farm — creating a risk that local residents could suffer power surges and electricity outages.
More than 500 graphics cards and 50 processors were also discovered during a search of the crypto farm, as well as the homes of some suspects.
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A Big Issue
The extensive electricity use associated with cryptocurrencies has been a cause for concern for governments and environmental campaigners alike.
A number of countries have embarked on crackdowns to stop mining activities too.
In the northern Chinese region of Inner Mongolia, those who are caught mining cryptocurrencies face social blacklisting as a punishment — something that would affect their ability to get credit and even access public transport.
A recent mass departure of miners from China has led to a record-breaking 28% drop in difficulty on the Bitcoin network.
