A crypto miner has been arrested by Chinese authorities for alleged power theft. He is said to have stolen a large amount of power so that he could operate his secret crypto mine.
The authorities in Anhui Province, a province in eastern China, have found the said crypto mine and seized more than 200 computers and crypto mining equipment that the suspect has been using to mine both bitcoin and ether.
The mine was found after the local power grid company noticed and reported a significant spike in the power use. The report was made in May, stating that the suspect had stolen 150,000 kW hours of power from April to May.
According to the suspect, who the authorities have identified by just his last name Ma, he only wanted to make money through crypto mining. He bought the necessary hardware in April but he later realized that doing so would burden him with a daily power cost of 6,000 yuan or $921—making his business unprofitable.