Chinese Granny Caught Stealing Electricity to Mine Bitcoin
An old woman aged 61 in China has been sentenced to detention of four months for stealing electricity to mine bitcoin, according to China Judgements Online, a website publishing court documents of the whole country.
As per the court document, in addition to jail time, the suspect has also been fined 10,000 yuan (roughly $1,450), and was ordered to cover the cost of the electricity charges accrued during that period with her mining equipment confiscated by authorities.
The suspect, named Chang Guifeng living in Tangshan (a city in North China’s Hebei Province) has allegedly stolen electricity during January to October 2018 to fuel her four bitcoin mining rigs.
By the time she got caught, Chang has managed to sell part of the bitcoin she mined, making illegal profits of 6,500 yuan.
What’s ironic is that the granny only earned 6,500 yuan ($940) at the cost of nearly 9,000 yuan ($1,300) worth electricity, and she has to pay a fine of 10,000 yuan (roughly $1,450) as part of her punishment.
Though they may not know what bitcoin is, these Chinese Dama (refer to a group of middle-aged Chinese women) have been eyeing on these noise-making “boxes” for easy and quick profits, some even at cost of breaking the law as the power-intense crypto mining machines can run up sizeable electricity bills.
The granny is not the first individual trying to find ways to escape from paying them. Last August, a man from Shanxi province has been sentenced to 3.5 years imprisonment for stealing train power to fuel his 50 bitcoin miners.
Considering the great electricity bitcoin mining needs, last month, the Chinese government has released a draft in which cryptocurrency mining was classified as the industry that shall be eliminated immediately, a sign of growing government pressure on the cryptocurrency sector.