Polish police announced on Friday that they had discovered a bitcoin mining operation at their own Warsaw offices.
“It was a civil employee, not a police officer, who stole electricity from Bitcoin,” said Mariusz Ciarka, a TVN24 spokesperson.
Ciarka went on to say, “Unfortunately, this was happening on a police station,” emphasizing that the suspect had no access.
Ciarka also went on to say that the suspected crime was detected “very soon,” but he did not provide a specific timetable. According to TVN24, the employee was sacked, and prosecutors were investigating.
Crypto-mining, the process through which computers create new virtual currency and validate transactions, necessitates enormous quantities of energy and processing capacity.
Large numbers of sophisticated computers are often used to build a specially designed “rig” that conducts the difficult calculations required to sustain a bitcoin network.
While the procedure is energy-intensive, it may be profitable, with each bitcoin being worth more than 32,600 euros ($38,800).
Bitcoin’s price in India was Rs. 31.1 lakhs as on July 31 (10:47am IST). According to the article, a second person was going to be sacked as a result of the probe.
What exactly is cryptocurrency mining?
Mining cryptocurrencies is time-consuming, costly, and difficult. Mining, on the other hand, is magnetically appealing to many cryptocurrency investors because miners are compensated with crypto-tokens. That could be because, like gold prospectors in California in 1849, businessmen saw mining as a source of pennies from Heaven. And why not, if you’re technologically savvy?
You can, however, read this explanation to determine whether or not you want to invest your time and money in mining. Throughout, we will be concentrating on Bitcoin (we will use “Bitcoin” to refer to the network or the cryptocurrency as a concept, and “bitcoin” to refer to a quantity of individual tokens).