Sanjay Singh pleaded guilty and was sentenced to 13 months in prison.
A UK court has jailed a Bitcoin miner arrested for stealing electricity estimated to be worth around £ 32,000, which he was using, according to the prosecution, to mine the cryptocurrency.
Sanjay Singh, who was learned to have fed his BTC mining machines with stolen electricity, pleaded guilty and was sentenced to 13 months in prison, local reports said published October 14.
Over 200 BTC mining machines
Singh was arrested after investigations showed he was responsible for illegal connections at two locations in the Leicestershire area. According to representatives of the Crown Prosecution Service, the miner connected more than 200 Bitcoin mining devices to power lines from a former factory in Coalville and a closed nightclub in Loughborough.
The mining activities have reportedly led to an overload at a substation, and the amount of stolen electricity is estimated at £ 32,000 (approximately $ 44,000).
Singh is said to have committed the offenses on two separate occasions, with the electricity tapping recorded at the nightclub taking place even after his initial arrest and the investigation still ongoing.
CPS official Andrew Baxter said that while Bitcoin mining is a legitimate activity under UK law, Singh’s imprisonment is due to theft which was motivated by greed. According to Baxter, the miner was simply “not honest enough” and did not appear to view his use of illegally acquired energy as criminal activity.
Bitcoin mining relies on electricity or energy from other energy sources to run mining machines, with miners being rewarded with bitcoins for creating new coins and securing the network from attacks. Miners can keep the coins they receive or sell them for a profit.
The price of Bitcoin today is $ 58,000, around 10.5% of its all-time high near $ 65,000.
Miners looking for countries where energy is abundant and cheap, countries like Canada, Kazakhstan and Russia have proven to be interesting sites. China recently gave up its place as the number one destination for minors, to the benefit of the United States.
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