In this current FUD climate, it is sometimes nice to hear something light. Ladies and gentlemen, I let you thank the West Midlands for bringing us this welcome break! Last week, British police, originally looking for green gold, ended up finding… digital gold.
Translated by Gaétan Lajeune
Cannabis is no longer profitable?
On May 18, 2021, a tip prompted West Midlands Police to raid an industrial estate 25 km west of Birmingham, the UK’s second largest city. Usually, when unusually high amounts of electricity are consumed by a property, it’s often a tell-tale sign that Amsterdam’s finest is being grown to satisfy Britain’s monstrous appetite for cannabis.
However, when the police broke down the doors, they were not greeted by the scent of the floral material they expected, but by the sound of roaring fans, from a hundred miners.
According to the police, like many illegal cultivators of green gold, these miners were stealing electricity from the national grid. While this may sound ingenious to some, it is a trick many used long before bitcoin existed. Of course, the irony of it is that blockchain could be integrated here to stop the misappropriation of electricity!
The sergeant Jennifer griffin commented on the presence of numerous signs that the police thought they had found a cannabis farm. “This farm had all the hallmarks of a cannabis grow op and I believe this is only the second such cryptocurrency farm we have encountered in the West Midlands.”, she said.
West Midlands Police are used to intervening to this day, as evidenced by the use of helicopters, or even drones, over areas showing suspicious signs. These equipped with heat detection equipment can quickly locate farms. But of course, in normal times the police do not leave with the same type of equipment. Speaking of which, what about the survey material? Well it looks like this one has been recovered, but no arrests have been made.
What is bitcoin mining?
Bitcoin mining is the process of creating new bitcoins. Mining is an integral part of the entire Bitcoin ecosystem. It has recently come under attack from the mainstream media for its energy impact. If they did their job correctly, they would be surprised at the result.
How many underground mining farms are there in the UK? Why did they choose this type of graphics card and not the most powerful? Have they sold to the top? So many questions and so few answers …
Just your average global millennial embracing, and interested in, the future of money and finance. Excited by blockchain tech as well as fintech but have a special passion for DeFi and Yield Farming, what will this technological disruption bring next?
The comments and opinions expressed in this article are those of the author alone, and should not be considered as investment advice. Do your own research before making any investment decisions.