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The Bitcoin Mining Company started a secret power plant after paying millions in fines

Image for article titled Bitcoin mining operation started by a secret power plant, it does not happen as planned

Photo: Federico Para (Getty Images)

that There is bloodAn unused natural gas well near a wealthy neighborhood in Alberta is unraveling the bitcoin mining fashion drama in Canada. Link Global could have gotten rid of the counterfeit gas if it had not been for the sound complaints of hot tub owners. This story has everything.

Accordingly CBC News Since last August, Greystone Manner residents have been experiencing annoying noise, such as “warming an aircraft engine on a tarmac floor.”

One person complained to the CBC News Service about the noise of an airplane disturbing the peace: “We have a hot pool behind us. “There is a premium you have to pay for a place like this,” they added.

Neighbors were called and CBC News reported that neither the Public Utilities Commission nor Maga Energy, the owner of the well, had been notified by Link Global. Not telling the owner – stealing, in other words. Now the Alberta Utility Commission Reported to be Revenue from electricity and bitcoin, as well as a $ 5.6 million fine for penalties. The company found that two power plants operated under radar for 426 days.

The secret power plants have powered four 1.25 MW generators, which is roughly enough to supply electricity. 6,000 houses In Texas. Or, consuming approximately 7,400 cubic feet of natural gas per hour.

Because bitcoin mining consumes large and constantly intensifying volumes of energy (to simplify), bitcoin mining is a competition to solve a complex mathematical problem; If anyone solves a high-powered machine problem, the first thing they get is a 6.25 block of Bitcoin. So any assessment of the power of Bitcoin would be rough, but the New York Times Currently calculating That mining consumes enough energy to power an average house for 9 years.

Power theft is not new to the industry. Earlier this year, the Ukrainian authorities Reports A mine was raided for allegedly violating power from the power grid. A similar report comes From England, And one is connected Enforcement of Malaysian Law More than 1,000 machines were evaporated and found to have stolen about $ 2 million in electricity from their owners.

In an email, Link Global CEO Steven Jenkins told Gismodo that this was normal and that the secret borrowing part was just a by-product of navigating a difficult regulatory landscape. “We are running on abandoned gas sites and working with the Utilities Commission to bring them into compliance,” Jenkins said. We have learned what we have learned, ”he said, adding that the lessons will be applied in the future.

The Alberta Utilities Commission is not immediately available for comment, but CBC News reports That AUC will not buy it. At an AUC Enforcement Team presentation last month, Link accused Global of “deliberate disregard for the existence of regulatory requirements.”

The trial is set to begin in November.





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