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Cryptocurrency Ecosystem => Crypto currency Mining => Topic started by: sirty143 on December 05, 2023, 11:22:50 AM

Title: Minnesota Power Co-op Accuses Couple of Major Electricity Theft for Bitcoin Farm
Post by: sirty143 on December 05, 2023, 11:22:50 AM
Minnesota Power Co-op Accuses Couple of Major Electricity Theft for Bitcoin Farm Operation

(https://i.imgur.com/mia2M01m.jpg)

In a case that intertwines crypto mining and utility theft, a Minnesota power company, North Star Electric Cooperative, has accused a former couple, Ryan Jaenicke and Tina Fehlhaber, of stealing... See more for yourself here (https://news.bitcoin.com/minnesota-power-co-op-accuses-couple-of-major-electricity-theft-for-bitcoin-farm-operation/).

Your opinion is greatly appreciated.
Title: Re: Minnesota Power Co-op Accuses Couple of Major Electricity Theft for Bitcoin Farm
Post by: hugeblack on December 25, 2023, 03:22:29 PM
The quote you mentioned is not enough to understand the news without clicking on the link.
It is difficult to run an electricity-consuming activity, such as Bitcoin mining and stealing electricity, without being discovered, because choosing a location for these devices requires an environment that reduces heat and noise, and because it is difficult to change the location if they are discovered. I hope that the punishments will be harsh.
Title: Re: Minnesota Power Co-op Accuses Couple of Major Electricity Theft for Bitcoin Farm
Post by: Stompix on December 29, 2023, 08:09:21 PM
Quote from: hugeblack on December 25, 2023, 03:22:29 PM
The quote you mentioned is not enough to understand the news without clicking on the link.

Here is the full story if you want details but the thing is entertaining enough, pictures included
https://www.scribd.com/document/688982637/0106-001#from_embed

Forget about noise, power and so on, the guy stealing electricity had its own youtube channels bragging about how he mines and how he rakes in profits and even approximate locations of his "farm". Enough? No, not even close, his youtube channel was called Degenerate Passive Income  ;D
But no, there won't be any major punishment as long as he pays up the damage, this is still a civil case for now.


Title: Re: Minnesota Power Co-op Accuses Couple of Major Electricity Theft for Bitcoin Farm
Post by: SamReomo on December 29, 2023, 09:02:32 PM
Quote from: Stompix on December 29, 2023, 08:09:21 PM
But no, there won't be any major punishment as long as he pays up the damage, this is still a civil case for now.
I believe the couple may face some punishments if they don't settle a deal with the company whose electricity they were stealing to run their mining operations. It's not fair to run mining operations by stealing electricity as that can be very damaging for the companies that provide electricity. I hope the couple may have a peaceful settlement with the company but at least they should admit their mistake and promise to not repeat it again.
Title: Re: Minnesota Power Co-op Accuses Couple of Major Electricity Theft for Bitcoin Farm
Post by: Stompix on December 31, 2023, 03:58:04 PM
Quote from: SamReomo on December 29, 2023, 09:02:32 PM
I believe the couple may face some punishments if they don't settle a deal with the company whose electricity they were stealing to run their mining operations.

No, it's s civil case!
They lose then they have to pay what the damages the electric company can prove the theft inflicted, nothing more.
Since the company went directly for such a dispute they face no prison time and they will basically just have to pay for the power they used, no way this can be called a severe punishment. More like a slap on the wrist , and a little small one, done with a feather!