Green energy made useful for mining

Japanese energy operator Kumamoto uses excess energy to mine cryptocurrency
01 March 2018   613

Kumamoto City local energy producer has reported it established an affiliate company OZ Mining that deals with the virtual currency. OZ Mining buys electricity from Kumamoto solar plants at a rate of 10~19 yen/kWh. The amount that the operator offers is a surplus of the produced electricity. This kind of application makes it effective to mine cryptocurrency.

Apart from just mining cryptocurrency, OZ Mining specializes in designing and building data centre sites (like mining farms) and assembles necessary mining rigs that can be fit to customer needs and power capabilities. Another notable product of the company is mining systems designed to work in cooperation to further increase the effectiveness.

The uncontrolled usage of electricity for the mining needs has recently become a mind-boggling issue. The situation has a reached a point when a solo mining farm easily overspends an entire country in terms of energy consumption. This poses a risk of huge pollution and environmental disaster. The instance of using a green energy is unprecedented and potentially could pave a way to more affordable renewable energy. Sources of renewable energy are usually located far from the population and pose a threat to the environment.

Chinese Hackers Mined $800k Worth Siacoin Hiddenly

According to the police, hackers in collusion with serving companies hacked 100,000 computers in Internet cafes in 30 Chinese cities
19 June 2018   119

In China, 16 people were arrested who earned $ 800,000 on the illegal mining of Siacoin cryptocurrency in the Internet cafes in dozens of Chinese cities, CoinDesk reports.

According to the police of Chinese Ruian (Zhejiang Province), hackers in collusion with serving companies hacked 100,000 computers in Internet cafes in 30 Chinese cities . Their income was 5 million yuan ($ 800,000).

Hackers used a malicious program that used the computing resources of infected devices to extract Siacoin crypto currency. Malicious software was sold to employees of computer maintenance companies who could download it to a PC in an Internet cafe during scheduled checks.

Suspicions arose in July 2017, when employees of Internet cafes in Ruyan noticed that their computers began to work very slowly. The CPU performance dropped by 70% even after the reboot.

Around the same time, the price of Siacoin according to CoinMarketCap grew by 400% from $ 0.002 in May to more than $ 0.01 in July. Accounts for utility services of Internet cafe Ruiana during this period also significantly increased. This caused their owners to contact the police.

Most Internet cafes in Ruian were served by one company. Its executive director was arrested in August last year, and disclosed information about hackers.