Singaporeans Turn to Bitcoin Mining

Many Singaporeans have recently caught up with the Bitcoin craze, causing a rash increase in demand for mining rig and graphics cards in the country.
16 November 2017   1600

According to Channel News Asia  one Singapore-based mining rig manufacturer has experienced a sharp increase in sales in recent months as the demand for cryptocurrency mining computers has grew up to more than 100 rigs per month as of November 2017 from about 15 in July.

However, the demand is not limited on rigs alone. In fact, cryptocurrency exchanges such as Coinhako and Quoine have both experienced double-digit growth in the demand for cryptocurrencies since the beginning of this year.

The influx of new investors has consequently helped pull the Bitcoin price as it increases between $6,000 and $7,000 in mid-November 2017 from around $1,000 in January.

With such promising growth, a lot of people have turned to mining to make a passive income and take part in the cryptocurrency market with the growth rates showing no signs of slowing down.


Iceland Farm Thief to be Sentenced to 4.5 Years

He was able to escape to Amsterdam in April 2018, using prison's window
22 January 2019   75

Icelandic Sindri Tor Stefansson, who was previously charged with theft of bitcoin mining equipment for more than $ 2 million, was sentenced to 4.5 years in prison. Six of his accomplices also received various prison sentences. This is reported by local media.

In addition, convicts will have to pay more than $ 200,000 in compensation in favor of the affected mining company Advania.

In March 2018, Stefansson and his accomplices committed one of the largest robberies in Iceland's history, stealing more than 600 full-featured mining farms from Bitmain.

Police detained the robbers in the same month. However, in April, Sindri Thor Stefansson managed to escape from Icelandic prison and flew to Stockholm and then to Amsterdam, using cell phone and fake ID.

Less than a week later, police detained Stefansson in Amsterdam, after which he was extradited to Iceland, where he was brought to justice.