$2 Million Bitcoin Mining Burglaries Lost In A Highly Organized Crime

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    Several computers used for data mining were stolen from a data center in what the local police described as the most significant theft ever in Iceland. Following this, there is worry the stolen equipment could land in the wrong hands and be misused or be sold, thus providing a tidy profit.

    Olafur Helgi, the police commissioner, told the Associated Press AP that it was a grand robbery on a unique scale that had never been witnessed. He affirmed that everything about the event pointed to highly organized crime.

    Mr. Kjartansson talked about four data center robberies in Iceland, Reykjavik which resulted in 600 bitcoin mining rigs, 100 motherboards, 100 power sources, 100 memory discs, and 100 CPUs being stolen. It amounted to $2 million in the booty.

    According to the Associated Press, the police pronounced this crime as “the most significant series of theft ever I the North Atlantic island nation. The computers that were stolen were so referred to as robust remain at large. 11 people linked to the affair have been arrested including one security guard.

    News.Bitcoin.com reported that Iceland had become a flourishing market for crypto mining because of the relative cold which is great for equipment as well as low electricity costs.

    In fact, mining is so booming in Iceland, and the energy consumption of the industry is expected to rise to more than 340,000 households on the island. As the bitcoin price stabilizes and or grows, and the inflation rate reduces by design, mining requires potent apparatus to enhance gaining more profit

    The police are currently flouting the caper with the hope of creating a broader awareness in the country for the providers of internet services, data centers or storage centers, as well as extreme power usage as the means of catching up with the perpetrators who were operating during the two months, from December to January.

    The local media also reported that at least one data center, Advania Data, had security cameras that are believed to contain security camera images that might give the police enough clues to bring further arrests.

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