One of the largest illegal mining businesses in Bitcoin history has crashed in Ukraine. The country’s largest ever illegal mining facility has been discovered in the city of Vinnytsya, Ukraine’s state security service announced on Thursday.
The monthly damage caused by the mining farm is over $1 million
The facility is said to have stolen enough electricity to cause power outages in more than one city area. According to preliminary estimates, the weekly amount of damage could reach 7 million hryvnia (approximately $256,500).
The farm was located in one of the old warehouse buildings of a local energy company. According to the investigation, the plant was founded by miners from Kiev and Vinnytsya. The people operating at the facility were changing the meter data to hide their illegal activities.
Thousands of equipment confiscated
With the collapse of the business, 3,800 game consoles, more than 500 GPUs, 50 CPUs and incriminating documents related to electricity theft were seized.
Law enforcement authorities initiated criminal proceedings under Article 188-1 of the Criminal Code of Ukraine.
Similar events can occur in other parts of the world. UK police officers accidentally discovered an illegal Bitcoin mining facility while raiding a suspected cannabis farm in May.