Germany: police have arrested a group of suspects for stealing electricity to operate a crypto mining farm

Six suspects have been arrested in the German city of Klingenthal for allegedly operating a cryptocurrency mining farm using stolen electricity.

The crypto mining farm, located in the premises of former electrical services company PGH Elektro, was raided by the Klingenthal police. During the raid, they discovered 49 computers, 30 of which were reportedly equipped with specialized mining hardware, including 80 GPUs. The authorities arrested five men and one woman for stealing electricity to operate the mining farm.

According to the police, the mining farm has been operating since 2017, and has consumed electricity of 30 households, worth roughly 220,000 euros ($250,000 USD). The authorities did not disclosed what type of cryptocurrencies were being mined at the mining farm.

Stealing electricity is becoming a serious business and the amount of electricity theft related to crypto mining is increasing significantly. Last year, it was reported that approximately $90 billion worth of electricity is stolen globally every year. Some of the worst offenders include crypto miners from Brazil, India, and Russia.

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Source: https://blocktribune.com/crypto-miners-arrested-in-germany-for-stealing-electricity/