09/11/18 07:39 UTC-4

"School" mining: director and head teacher mined Ethereum on school grounds

Chinese teachers set up a mining-farm on school grounds
Chinese teachers set up a mining-farm on school grounds

Teachers of Pumana Middle School in Chenzhou, Hunan Province, were caught on Ethereum miningMining
– is a type of activity for creating new blocks in the Blockchain to ensure proper system operation. Details
in the school, – as reported by local "HK01" Chinese news service.

Cryptocurrency mining has been going on for the past few months. At the same time, there were suspicions: after all, the students complained that the computers at the school were terribly noisy. Ethereum  Mining, apparently, interfered with the work of the school network, which significantly hampered the work of many of the teachers. In the end, the teachers found the cause: nine installations for mining.

As an explanation, the school director and the head teacher (who were partners in the enterprise) stated that they started mining at the school due to expensive electricity bills. The school principal, Lei Hua, lost his job due to the incident. While the head teacher Von Tsipen was released with a warning.

Lei Hua talked in detail about how crypto-farms reached the territory of an educational institution. He initially spent over 10,000 yuan on the purchase of the first installation and quickly realized that it was using too much electricity. Therefore, he moved the mining equipment to the school dormitory. Later, he spent another 40,000 yuan to buy seven more such facilities and found that they would not fit in a dormitory. After that, the director began to mine in the school building.

A total of "school" mining (at nine farms) brought a loss of more than 14,000 yuan (about $ 2,000) for additional electricity bills.

Editor: Yuliya Soroka

See also: ""Digital gold" mining consumes more energy than real gold mining"

#China #illegal mining #cryptocurrency #Ethereum



29/05/19 04:06 UTC-4

Litecoin cryptocurrency halving: 70 days left

​Starting today, on May 29th, the countdown begins until the reduction of the remuneration to the miners of the sixth cryptocurrency in terms of capitalization, Litecoin. It is expected that in early August, the remuneration for the Litecoin block will be halved.

Hypes, funds, fiat money