prison

Russia uncovers a crypto mining farm in its oldest prison: report

Posted on


A deputy warden of Russia’s oldest prison has allegedly mined cryptocurrency in the facility and is under investigation on suspicion of stealing electricity to do so, Bitcoin.com reported on Monday.

See related article: To stay relevant, crypto regulations need to evolve, decentralize: Crypto Rising

Fast facts

  • The deputy manager of Butyrskaya prison in central Moscow has been accused of setting up a crypto mining farm with hardware found in a psychiatric clinic in the prison, according to the report.
  • The mining equipment was installed in November and was in operation until February, consuming electricity that cost over 62,000 rubles (US$1,050) in government funds, the media report said, citing investigators.
  • Russia’s central bank had called for a ban on cryptocurrencies before the invasion of Ukraine but has since granted the country’s largest bank, Sberbank, a license to trade digital assets.
  • Russia’s trade minister recently said that the government and central bank may be reaching a middle ground, and may be legalizing cryptocurrency payments.
  • Russia proposed Bitcoin and national currencies as payment options for energy exports in March.

See related article: Russian crypto miner Bitriver added to US sanctions list



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *