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Ukraine Cryptocurrency Mine Raid Gone Wrong?

Climate change is already a global issue that everyone is trying to reverse or at least slow down. Even Elon Musk has “half-backed out” of accepting Bitcoin payments for Tesla due to “excessive energy usage through mining.” People, governments, and other officials are now trying to crack down on mining energy consumption, which has sent the Ukraine Security Service into a site using excessive energy.

The initial thoughts, and presumably intelligence data, were that the premises was a crypto mining farm stealing electricity from the grid. Their intelligence claimed that they stole over $250,000 USD of electricity, and that could cause power outages across the local region.

The raid found over 5,000 devices, mainly PlayStation 4’s, including PC processors, cell phones, and flash drives. None of which are comparable in mining ability to the current mining rigs that we think of today. Furthermore, there was no evidence of electricity theft, even though the premises was a former JSC Vinnysiablenergo warehouse, an electricity provider.

While there is the “possibility” that the PS4’s were adapted to be capable of mining BTC, it is unlikely and not yet proven.

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