Police went in search of the cannabis farm. However, got many computer parts. Later they realized that bitcoin was made or ‘mined’ there. That too in stolen electricity.
According to a report by BBC Online, West Midlands Police received information that something was going on at the Great Bridge Industrial Estate in Sandwell, UK. They attacked there on May 16. But instead of rows and rows of cannabis plants, they have got rows and rows of computer parts. There were about 100 computer units, police said.
Police say the cryptocurrency factory stole thousands of British pounds of electricity. The power supply company of the building, Western Power Distribution, later found out that the electricity connection was taken illegally there.
Police were informed that many people were traveling in the building during the day. When the drone was sent there, they got information that the building was spreading heat.
It is believed that cannabis is being cultivated there. Sergeant Jennifer Griffin said, ‘There were all the signs of cannabis cultivation. I think there are two such cryptocurrency factories in the West Midlands. ‘
Computer parts were seized but no arrests were made
Computer components were used in bitcoin mining, police said
Computer devices were used in bitcoin mining, according to PoliceWest Midlands Police
What is Bitcoin?
The concept of digital currency Bitcoin was first published in 2008. It has no central financial system. All types of transactions are recorded in a database called blockchain.
Bitcoin can be matched with algorithm solutions. This process is called mining. It requires a lot of power for many computer devices to run together.
According to the Cambridge Bitcoin Electricity Consumption Index, the amount of electricity consumed to operate Bitcoin worldwide exceeds the electricity demand of the entire Netherlands.