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Updated June 1st, 2021 at 16:23 IST

Bitcoin mine uncovered by cops after they suspected it was a cannabis farm

Bitcoin mine uncovered by cops after they suspected it was a cannabis farm. The illegal mine had essentially stolen thousands of pounds of electricity.

Reported by: Anushka Pathania
bitcoin mine
IMAGE: SHUTTERSTOCK | Image:self
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At the site on the Great Bridge Industrial Estate, Sandwell, the police found an illegal Bitcoin mining operation. The police happened to uncover the alleged mining operation when they were searching for a cannabis farm. The place was raided on May 18th, 2021 when officers had been tipped off about the site.

Police find illegal Bitcoin mine in a raid

A report in BBC.com suggests that the Bitcoin "mine," according to the police, had essentially stolen thousands of pounds of electricity. An unlawful connection to the electrical supply was discovered after inquiries with network operator Western Power Distribution. Moreover, the authorities found a bank of about 100 computer units instead of cannabis plants that they were tipped off about.

A police drone detected up a lot of heat emanating from the building, according to detectives, who were tipped off about a lot of people entering the unit during the day. Sgt Jennifer Griffin told the media portal that they had expected to find a cannabis farm. She further stated that had all the trappings of a cannabis growth operation, and she believes it is just the second crypto mine that they've seen in the West Midlands. The computer equipment was seized, but no arrests were made, according to the force.

What is bitcoin mining, and how does it work?

Bitcoin mining is a way of creating new currencies that involves using computers to solve complicated mathematical algorithms or riddles. Cryptocurrencies are based on a decentralised network that requires mining to operate. Bitcoin mining software is designed to solve the difficult algorithm and process a block in around 10 minutes on average for those on the network.

What makes bitcoin so harmful to the environment?

Miners mine blocks and validate transactions using huge and efficient systems, which cost a lot of electricity. The majority of bitcoin's energy use comes from the mining process. In exchange for their efforts, miners earn newly created bitcoins as well as transaction processing fees.

Bitcoin mining, according to a University of Cambridge study, consumes more than 120 Terawatt Hours (Twh) each year, consuming more energy than Malaysia, Sweden, and Argentina combined. According to the study, if bitcoin were a nation, it would be among the top 30 energy consumers.

IMAGE: SHUTTERSTOCK

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Published June 1st, 2021 at 16:23 IST

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