600 Missing Iceland Bitcoin Miners May Be In China

Recent police investigations have found out that about 600 Bitcoin mining computers over electricity theft have been found after Chinese authorities confiscated 600 mining computers.

According to the Chinese news agency, Xinhua News, this theft could be the “Largest power theft case in recent years,” adding that an additional eight high-powered fans were also confiscated. “The individuals running the mining farm short-circuited their electricity meter, thereby avoiding receiving a bill for the energy used to power the miners.”

“Bitcoin mining is a very power-consuming process which mainly depends on high-performance computers. The monthly electric charge of 600 such computers is estimated at hundreds of thousands of yuan (1 U.S. dollar is worth 6.3 yuan).” Noted Xinhua News.

However, it is still unsure whether this Theft could have anything to do with Iceland’s “Big Bitcoin Heist.”  Recalling from the previous post, these machines were stolen across several incidents during the December and January, and officials have so far had no luck in locating them. With this, the machines’ owner is offering a $60,000 remuneration to anyone having any information in relation to this case.

Officials in Iceland stated that the scheme to steal the machines, which according to them, is worth approximately $2 million, is probably the biggest theft case ever in the history of Island.

“The alleged mastermind behind the thefts is set to be extradited to Iceland from the Netherlands, where he was arrested after escaping a low-security prison and fleeing to Sweden.” Cited Cryptovest.