The missing machines from an unsolved Bitcoin mining hardware theft in Iceland earlier this year may be in China, Icelandic media outlet RUV reported May 5.
Icelandic police are reported to have now issued an enquiry to Chinese authorities, after news broke in late April that 600 devices used to mine BTC had been seized in the northern city of Tianjin.
Icelandic police were soon able to identify and arrest two suspects in February.
Icelandic police have been monitoring energy consumption locally for abnormal increases without success.
Chinese police have not yet responded to the Icelandic enquiry, according to RUV. With its cold climate and widespread access to renewable energy, Iceland is a hot spot for crypto mining.
Local industry sources have predicted a doubling of the country's crypto mining energy consumption this year, more electricity than the Iceland's 340,000 residents will consume for personal use.
Access to geothermal and hydroelectric power plants makes mining in Iceland potentially more environmentally sustainable than in China's coal-burning mining sites.
The latter has long been a stalwart crypto mining superpower.
In 2017, allegedly 50 to 70 percent of BTC mining took place in China.
This January news broke of plans to toughen regional regulatory oversight and potentially restrict the power use of miners in future.
600 Stolen Bitcoin Miners From Icelandic Heist Suspected To Be In China
gepubliceerd op May 7, 2018
by Cointele | gepubliceerd op Coinage
Coinage
Vermeld in dit artikel
Recent nieuws
Alles zien
Blockchain Bites: Bitcoin's Run, Uniswap's Hemorrhaging Value, Anchorage's Banking Bid
Bitcoin is nearing all-time highs in price and market cap last set three years ago.
Japan's megabanks to lead experiment with digital yen
We have, in order, Cheese Bank with a $3.3 million theft, Akropolis with its $2 million loss, Value DeFi with a whopping $6 million exploit and finally Origin Protocol's loss of $7 million.
Number of new Bitcoin addresses spikes amid growing FOMO
Japan's three largest banks, as part of a group of 30 private sector actors, are set to collaborate on an experiment with a digital yen.
Not just Wall Street: Quant trader explains why Bitcoin price is going up
Sam Trabucco, a quantitative trader at Alameda Research, believes four general factors are pushing up the price of Bitcoin.