Thursday, September 21

Dismantled a cryptocurrency ‘farm’ in Seville and seized equipment of more than 50,000 euros

Agents of the National Police have dismantled in the town of Santiponce (Seville) the first cryptocurrency mining farm in the province. The installation used public electricity and had powerful cooling and ventilation elements for its operation. As a result of the operation, 22 teams have been intervened with an approximate value that would exceed 50,000 euros.

The police investigations began as a result of a possible indoor marijuana plantation that could be located in some stables located in the aforementioned Sevillian town, according to the National Police in a statement.

After carrying out the first inquiries, the agents realized that the existing indications did not correspond to the cultivation of marijuana, but rather that these facilities could be hosting a cryptocurrency farm of which there are hardly any records in Spain.

During the search in the stables, the agents discovered modern facilities for mining cryptocurrencies. In this place, 21 ASIC teams intervened, dedicated exclusively to Bitcoin mining, estimating its approximate value above 31,500 euros, which could provide a monthly profit of 2,500 euros. A RIG mining equipment was also found, also used for mining cryptocurrencies, with an approximate value of 13,000 euros and that could generate profits of 1,000 euros per month.

For the maintenance of the intervened equipment, and given the high temperatures that are generated, they used cooling systems and powerful industrial fans designed to move the hot air to the outside. Outside the premises, an illegal connection to the electrical network was located to power the equipment, with a very high amp consumption, which, according to technicians from the electrical company, could generate a monthly electricity fraud of 2,000 euros.

The researchers who are analyzing the seized material to identify those responsible for these facilities believe that these activities were in an early phase of operation, which is why the police intervention would have dismantled the activity before it became profitable for the organization