[ConcernedCitizen]

Police were stunned to find a bitcoin “mine” stealing thousands of kilograms of electricity during a suspected warehouse drug raid.

Officers in the West Midlands, UK, thought they were about to bust a cannabis farm – but were met with the advanced tech scam instead.

Cryptocurrencies have to be “mined” in order to be created, which involves solving increasingly complex mathematical puzzles – requiring more and more powerful computers and significantly more energy.

Most computers used for the process cost more to run than the value of the currency they create – making stolen electricity a lucrative business when a single bitcoin is currently worth around £26,000 ($47,844).

Read more here:
https://www.news.com.au/finance/money/po...1f259926a3