Bitcoin Bandits Steal 600 Mining Machines


Officials in Iceland reportedly said the scheme to steal the machines, which are worth close to $2 million, is the biggest in the island nation's history.

Indeed, Computer Weekly recently reported on the launch of cryptocurrency mining-focused datacentre operator, The Moonlite Project, and its plans to open its first facility in Iceland later this year.

Police in Iceland have arrested 11 people suspected of stealing more than 600 computers that were being used to mine crypto-currencies, reports AP. Wow, heist movies are going to be incredibly boring if this shit keeps up. The thieves stole over 600 powerful servers created to mine bitcoin, along with 600 graphics cards, 100 processors, 100 power supplies, 100 motherboards and 100 sets of computer memory. On Friday, a judge at the Reykjanes District Court ordered two of the alleged to remain in custody. "Everything points to this being a highly organised crime", he told the Associated Press.

According to Cnet, the majority of the computers were stolen from Icelandic server firm Advania, which caught the robbers on CCTV. Police there believe that these thefts are tied to organized crime.

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The investigative authorities and local agencies have also contacted electricians. local internet providers and storage space to report them about any unusual request for power demand.

Iceland has become an attractive place for mining bitcoin due to its renewable geothermal and hydroelectric power plants, and cool temperatures, favorable for preventing mining computers from overheating.

A gang of thieves orchestrated four rounds of thefts of computers used for Bitcoin mining. Of course, they could be used to generate far more money than that if they're used for Bitcoin mining.