Ukrainian Law Enforcement Raids Illegal Mining Farm With GPUs, PlayStations
The miners reportedly used the electricity of the local power provider.
Ukrainian law enforcement shut down a “major” crypto mining farm, the Security Service of Ukraine (SSU) said Thursday.
According to an official report, the miners occupied a utility room at the local electricity provider in the town of Vinnitsa southwest of Kiev and illegally plugged into its power grid. “Entire blocks of Vinnitsa could have been left without power," the SSU said.
The law officers seized 5,000 units of hardware, including “3,800 PlayStations, 500 GPUs (graphic processing units), 50 CPUs (central processing units), documents, notepads, phones and flash drives," according to the report. Authorities are now trying to identify the people involved with the mining farm, possibly including the staff of the electricity provider, Vinnytsiaoblenergo.
Vinnytsiaoblenergo may have lost as much as $250,000 a month, the investigators said.
Ukrainian law enforcement officials discover illegal mining farms from time to time, raiding venues with unauthorized access to the electricity grid. Earlier in July, the SSU shut down a smaller farm in the Chernihiv region containing 150 application-specific integrated circuits (ASICs), Forklog reported.
Ukraine is about to pass its first crypto regulation, with the Draft Bill on Virtual Assets proceeding through parliament. The country's central bank has been exploring the prospects of issuing a Ukrainian hryvnia-backed central bank digital currency, and earlier this month, the future CBDC was included in the national regulation for payment systems.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.