Tianjin Police Seizes 600 Bitcoin Mining Computers
The police in Tianjin municipality of North China have seized 600 Bitcoin mining computers.
According to a report by Digiconomist, mining Bitcoin consumes an average of 58.83 TWh worldwide every year. To put things into context, the annual energy consumption of worldwide Bitcoin mining is a little more than the total amount of energy Switzerland consumes throughout the year. To combat this issue, Intel has filed a patent for its latest Bitcoin mining chip accelerator which can reduce the energy consumption by up to 35 percent.
Since the computers used for mining Bitcoins are high-performance computers, Bitcoin mining computers consume a lot of energy. And when 600 Bitcoin mining computers are being used in a city like Tianjin, the power grid would certainly report abnormal electricity consumption. And that is what led to the cops finding and eventually seizing the 600 Bitcoin mining computers.
Apart from the computers, eight high-power fans were also confiscated by the local police. The local news agency, Xinhua News Agency reported on Tuesday that this had been the biggest power theft case in years.
The power company of Tianjin monitored a sudden increase in the line loss of almost 28 percent on one of the electricity lines at the peak. Sudden increases in line loss are mostly due to an increased load current.
This led to an investigation in which they found out that the junction box of the electricity meter of the suspect had been short-circuited. This is one of the popular ways in which people avoid billing.
An estimated monthly charge of using 600 Bitcoin mining computers rounds up to hundreds of thousands of Yuans.
For the electricity theft, the police have put five people under investigation and have detained one suspect.