Japan to Give First Jail Sentence For Hidden Mining

Unemployed 24-year-old resident of the city of Amagasaki received one year's imprisonment with a three-year suspended sentence
03 July 2018   2124

The Japanese court for the first time issued a guilty verdict for using a hidden mining of cryptocurrency, Bitcoin com reports.

On July 2, the Sendai District Court sentenced an unemployed 24-year-old resident of the city of Amagasaki, Hyogo Prefecture, to one year's imprisonment with a three-year suspended sentence.

This verdict was the first decision in the case of the spread of the browser-based CoinHive Miner to other people's computers for the hidden mining of Monero.

In the autumn of 2017, three suspects created websites that installed a virus-mining program on their devices without their consent.

One of them, the law enforcement agencies of Japan have imposed a fine of 100 thousand yen (about $ 900) for the illegal deployment of the virus. He himself, however, argued that in fact this program is not a virus, but is "a method similar to what is used to distribute online advertising."

Since June 18, the Financial Services Agency of Japan (FSA) has banned anonymous crypto-currencies, including Monero, because of the potential for their use in fraudulent purposes.

Also this week it became known that the Agency is considering the possibility of changing the regulatory and legal framework for controlling exchange operations with bitcoin and other cryptocurrencies.

SBI Holdings & GMO Internet to Use Largest BTC Farm

The companies allegedly made a deal with Whinstone Inc., that is going to launch almost 100 acres big mining farm in Texas soon
08 January 2020   120

Japanese financial conglomerate SBI Holdings and IT giant GMO Internet intend to mine bitcoins at the world's largest mining farm in Texas, Bloomberg reports citing sources familiar with the situation.

The companies allegedly made a deal with Whinstone Inc., a Northern Bitcoin subsidiary building a data center near Rockdale, to start cooperation in the coming months. Such a partnership is expected to help Northern Bitcoin attract more large investors.

Nevertheless, company representatives declined to comment on the information on cooperation.

As you may remember, Northern Bitcoin signed a merger agreement with Whinstone last November.

According to plans, after the construction is completed, the maximum capacity of the data center will reach 1 GW, and the facility itself will occupy an area of ​​more than 40 hectares, which is equivalent to 57 football fields.