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Friday | September 17, 2021
In Ukraine, mining farms are also in the spotlight

In Ukraine, mining farms are also in the spotlight

If we all understood that China’s repression policy against cryptos has very clearly political reasons, what is happening in Ukraine is not quite the same, at least not at first sight. Indeed, in this country, hijacking the power grid is a national sport largely facilitated by the dilapidated facilities. This activity didn’t seem to really bother the country because the nuclear park provides the country with a lot of energy. But the network seems to suffer from these hijackings. For example, the Security Service of Ukraine (SBU) revealed that it had discovered an underground crypto-currency farm in the city of Vinnytsia, in west-central Ukraine. Ukraine mining

Power grid hacking: real motivation for the crackdown?

The authorities’ discovery has an original side. Indeed, GPU being a rare commodity, the miners here used no less than 3,400 PlayStation 4 consoles for extraction. A PS4 console has a computing power of 1.84 TFLOPs, but there were also a few PlayStation 4 Pros (4.2 TFLOPs) in the setup. More traditional mining with 500 graphics cards could also be found. mining on PS4 Ukraine In total, the seizure of authorities on this site covers the following material:

  • 3800 game consoles ( 3400 PS4 and 400 PS4 Pro )
  • More than 500 graphics cards
  • 50 processors
  • Laptops, phones, USB keys.

SBU officers established that the illegal crypto-farm was created by residents of Kiev and Vinnytsia. They used one of the former warehouses of Vinnytsiaoblenerho JSC, located on the industrial site of the company. This Ukrainian company is active in the electric power sector. The company specializes in the transmission and distribution of electrical energy. The challenge for the authorities is now to identify all the people behind this clandestine mine to verify whether the employees of JSC Vinnytsiaoblenerho are involved. The massive detour of electricity was indeed masked by the use of several techniques and false meters not allowing the company to identify abnormal consumption. A week earlier, the Ukrainian law enforcement agencies closed down an illegal mining farm in the Chernihiv oblast with the same findings

Ukraine would like to use its nuclear power to mine itself

We can see that here, it is the illegal use of electricity that seems to be the concern of the authorities because these practices cause many power outages and penalize the local population… At least that is the official line. Ukraine At least that’s the official line. The government seems to be active in building its own mining industry. Earlier this year officials from the Ministry of Energy discussed with a local state-owned nuclear power company and some local ASIC machine manufacturers the possibility of building a Bitcoin mining center to take advantage of excess energy. At the same time, and following the same logic as China, Ukraine is also developing a “state-owned” digital currency.

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Edited by Calliers

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