Iceland's Stolen Mining Farms May Be In China

Heist of 600 Bitcoin devices was one of the biggest crimes in modern history of Iceland
07 May 2018   792

600 Bitcoin mining devices, stolen in Iceland, now may be in China, CoinDesk reports.

The police of Iceland sent a request to the Chinese authorities after they learned that they had confiscated 600 mining computers. The Tianjin police seized the devices after discovering an unusually high consumption of electricity in their territory.

The Chinese media then reported "the largest electricity theft in recent years," adding that 8 industrial fans were also confiscated. Attackers connected to the substation bypassing the counters, thus intending to avoid the need to pay for the energy they use to mine the cryptocurrency.

However, until the end it is not clear whether the devices confiscated in China, the attitude to the "big bitcoin-robbery" that occurred in Iceland. Earlier it became known that the devices were stolen during several episodes in December and January. Their exact location is still unknown.

The alleged organizer of the crime should be extradited to Iceland from the Netherlands, where he went, leaving prison on his own, after visiting Sweden.

GMO Internet to Release 7nm Bitcoin Miner

Mass production is planned to begin on June 6;  shipment starting by the end of October
24 May 2018   150

Japanese IT-company GMO Internet intends to release the world's first devices for bitcoin mining based on 7-nm chips before the end of this year. This is reported by Coindesk.

The company will start production of the new B2 miner on June 6, and its deliveries will begin in late October.

The announcement was made after several months of research and development of technology for the future device. Company reported on its plans to develop ASIC miner last September. It is expected that the device will be able to provide greater computing power with less electricity, but more detailed information will be provided along with the official announcement in June.

In addition to selling B2 to other miners, GMO Internet plans to install new devices on its own farms. Last year, the company allocated $ 90 million to develop its own business in this area.