After the first quarter of 2018, there had been a rise in Bitcoin (BTC) activities which has well has increased its price, since it has always been said that continuous activities within the blockchain is necessary for its rise in value. Earlier this month, it was reported that the hash rate of mining Bitcoin (BTC) has increased to a value above 13,000 PH/s which directly has contributed to the rise in the value of the coin.
However, it is pertinent to observe that there had also been an increase in illegal mining of BTC which will one way or the other contribute to the rise in BTC hash rate and prove in the second quarter of 2018. This illegal mining activity is not limited to a location, because it has been reported in China, Russia, US, South Korea and Iceland.
Cases of Illegal Bitcoin(BTC) Mining
1) The Southern Chinese Family:
A family in Fengshun, Meizhou was discovered to be mining BTC from China Southern Power Grip Company, by connecting hidden cables to the grid. This was discovered as some of the grid workers were carrying a routine audit of the area. Some of the things discovered with them are 15 mining computers and 56 mobile phones.
2) Illegal Bitcoin mining in Russia:
Two people were caught on the allegation that they added Bitcoin (BTC) mining in the abandoned rubber station and used 8 million kilowatts per hour without considering the total power supply of the Orenburg region. More than 6000 pieces of computer gadgets were discovered in the farm that formerly hosted RTI.
Also in Russia, a group of nuclear scientist who had access to some of the most powerful computers in the country, located at Russian Research Institute of Experimental Physics (RFNC-VNIIEF), located in the city of Sarov, Nizhny Novgorod, were caught in there attempt to use the computers to mine free BTC.
3) Unauthorized mining in Chelan Public Utility District:
It was discovered that an apartment that has more than 22 times increase in its monthly use which grew from 500 KWH to 11,000KWH. That made them sign a moratorium on March 19, 2018, which enables one to pay a fee of $7000 to $10,000 to mine cryptocurrency in commercial areas and also a fine of $5,000 if caught for illegal mining of the coin.
This large-scale discovery shows that the major currency most illegal miners concentrate on is Bitcoin (BTC), and it can be easily deduced that this illegal activity has contributed to the increase in the hash rate of BTC, which in turn has increased its price.
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