China police bust bitcoin miners for stealing $3 mn in electricity
Bitcoin can be produced or "mined" by banks of computers solving complex algorithms (AFP Photo/Justin TALLIS)/ Police in eastern China have busted a ring of illicit bitcoin miners who stole nearly $3 million worth of electricity to generate the digital currency, prompting a local power company to tip off investigators, authorities said Friday. A decentralised virtual currency, bitcoin can be produced or "mined" by banks of computers solving complex algorithms. The mining process can be very expensive on a large scale because it requires ...
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