Massachusetts Resident Allegedly Set up a Secret Crypto Miner Under a School (Report)
Nadeam Nahas – a 39-year-old former US state of Massachusetts employee – reportedly faces charges of placing a cryptocurrency mining operation in a remote space at a local school.
Court documents claim he stole nearly $17,500 worth of electricity to power his supercomputers.
Revealing the Crime
According to recent coverage, Nahas set up his crypto miner in the basement of Cohasset High School. Prosecutors insisted that he vandalized the facility and stole over $17,000 worth of electricity to power his 11 computers. The machines were supposedly hidden in a crawl space next to a cooling system.
The police first spotted Nahas’ illegal affair in December 2021 after the town’s facilities director found out that many computers and electrical wires were misplaced. Law enforcement agencies teamed up with the local IT director, who determined that the 39-year-old used the machinery to run a cryptocurrency mining operation.
Chief William Quigley of the Cohasset Police Department also estimated that he connected his powerful computers to the school’s electrical network.
The Coast Guard Investigative Service and the Department of Homeland Security detached the equipment, while a consecutive three-month investigation revealed that Nahas (who resigned from his job in 2022) was the main suspect in the illicit act.
He was supposed to appear in court earlier this week but did not show up. The judge leading the case issued a default warrant on him, meaning the police are now looking for his whereabouts to bring him to justice.
Massachusetts has Among the Highest Energy Prices
As of the end of 2022, kWh in the area costs around 28 cents, with Hawaii, New Hampshire, and Rhode Island being the only states charging higher fees. This could be one reason why Massachusetts has not emerged as a bitcoin mining hub.
Texas, on the other hand, with its relatively cheap electricity prices, vast territory, favorable climate conditions, and crypto-friendly authorities has turned into one. Riot Blockchain and other industry leaders are located in the Lone Star State.
The region has also become an attractive destination for Chinese miners who started relocating their businesses after China’s government imposed a blanket ban on all cryptocurrency activities in 2021.
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Filed under: Bitcoin - @ February 26, 2023 12:44 pm