Bitcoin miners to be fined $ 5.6 million for using a passive gas well

In May we presented you news about a massive bitcoin mining platform caught working illegally in the UK. Then, last July, we told you about illegal crypto mining farm which was smashed in Ukraine.

Another illegal cryptocurrency company has now been opened, this time in Alberta, Canada. It all started when the neighbors complained about unusual and annoying sounds.

Jeff Kochuipchik said CBC News he first noticed the noise last fall.

“It’s different every time the wind changes direction. Just like a wave … but it’s 10 times stronger and 100 times more annoying,” Kochuipchik said. “It’s almost like an airplane engine warming up on asphalt … it’s such a rocket that no one in my family can sleep.”

After a little research, the culprit behind the noise was quickly found and found to be a The Vancouver-based data center and energy company called Link Global.

Link Global had created the facility to mint new tokens for the world’s largest cryptocurrency: Bitcoin. However, the company failed to obtain the appropriate planning permits.

The company could now receive a $ 5.6 million fine ($ 7.1 million) from the Alberta Utilities Commission (AUC).

Link Global has installed a complex bitcoin extraction facility consisting of four 1.25 MW gas generators that draw energy from a passive natural gas well owned by Calgary-based MAGA Energy.

The plant was installed for the first time in August 2020 and in the fall, when it is at full capacity, it makes a lot of racketeering.

The AUC said Motherboard in email that it regulates utilities rather than bitcoin mining, and that its enforcement officials have now recommended punishment for violating such legislation.

As always, keep an eye out for the next illegal bitcoin fiasco.

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