Bitcoin: enormous electricity problem – is it too much?

Electricity theft is a recurring issue when operating illegal mining farms. Bulgarian investigators have now uncovered a spectacular case. Bitcoin mining is an expensive proposition when it comes to electricity costs. Two operators of an illegal mining farm in Bulgaria have now failed to use their method of saving electricity. As the newspaper Bulgaria Today reports, the two 31- and 38-year-olds from the vicinity of the Bulgarian capital Sofia were caught by investigators.

Stolen energy
They are said to have tapped power lines and stolen energy worth the equivalent of 1.26 million euros. The mining farms themselves were set up in Kyustendil, about 60 kilometers southwest of Sofia. At a press conference, a representative of the management of the Ministry of Interior and the electricity supplier CEZ Electro Bulgaria disclosed details of this incident. Accordingly, the two perpetrators stole electricity from the grid over two periods of three and six months. CEZ deputy director Philip Yordanov said this was “the biggest theft of electricity that has ever happened to us”. The electricity stolen for mining was enough to supply the village of Kyustendil with around 120,000 inhabitants with electricity for about a month. The police held the two men for 24 hours.