Iceland’s Missing Bitcoin Miners May Be In China

Iceland’s 600 missing bitcoin mining machines may be in China, local news reported last week.

According to RUV, Icelandic police have sent Chinese authorities an inquiry after the latter country confiscated 600 mining computers. Police in the Tianjin area reportedly seized the machines after detecting unusually high electricity consumption, per Xinhua News.

The Chinese news agency explained that this may have been the “largest power theft case in recent years,” noting that eight high-power fans were also confiscated. The individuals running the mining farm short-circuited their electricity meter, thereby avoiding receiving a bill for the energy used to power the miners.

Left untouched, the meter would have recorded “hundreds of thousands of yuan” in bills, Xinhua reported.

However, it is unclear whether the machines seized in China have any relation to Iceland’s “Big Bitcoin Heist.” […]

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