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The Largest Electricity Theft For Mining In Balkan

Mining industry categorized as a huge industry with noticeable profit these days. A lot of institutions and firms launched their mining farms...

Written by Wallebi Author · 1 min read >
The Largest Electricity Theft For Mining In Balkan

Mining industry categorized as a huge industry with noticeable profit these days. A lot of institutions and firms launched their mining farms globally. Although not everyone took cryptocurrency mining serious in early days, these days it’s a huge and profitable industry. These days not only firms invested in crypto mining, but also individuals entered the market with the hope to have part of the profit. One of the common illegal activities that individual miners usually contribute in is stealing the electricity in order to power mining facilities. In the latest news, two suspects arrested for the largest electricity theft for mining in Balkan.

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The largest electricity theft for mining in Balkan; two suspects arrested

The Oblast Directorate of the Ministry of Interior Affairs (ODMVR) and CEZ Electro Bulgaria both reported the largest electricity theft in Balkan country. In fact, two suspects arrested so far in related to this illegal mining.

The local news agencies revealed that these two men are responsible for a mining farm, which was using electricity illegally. In fact, the farm stole around $1.51 million worth of electricity.

This crypto mining farm located in Kyustendil territory. The officials reported the stolen electricity was enough for the entire city of Kyustendil to use it in one month.

More investigation is in progress

The officials and local news agencies reported that one of the farms had been operating for 6 months. However, the other one just started working from 3 months ago. The arrested men released on bail, but more investigations are still in progress.

It was not the first case ever happened

It’s not the first time officials arrest people cause of illegal mining activities. As Wallebi reported previously, same cases happened in China, Kazakhstan and South Korea as well.

Recently, the Republic of Georgia’s custom Chief commented that solving the illegal miners issue is simple, if, authorities could ensure that no mining facilities are imported into the country. Governments such as Georgia, Abkhazia and the above mentioned countries hope that they would be able to control illegal mining by new regulations in this area.

Written by Wallebi Author
Author and analyst in the field of cryptocurrency Profile

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