Tuesday, March 5, 2024

School Headmaster Fired For Stealing School Electricity To Mine Ethereum

A Chinese high school headmaster fired for deploying Ethereum mining machine in school for more than a year. He deployed Eight mining machine’s in school which increases the school electricity bill to US$2,120.

According to the report, the school headmaster Lei Hua started mining ethereum in his home starting 2017, which consumed 21 kilowatt-hours of electricity every day.

In order to save money, he shifted the mining machines to school and installed 7 other machines along with it, altogether these machine’s consume 168 kilowatt-hours of electricity every day.

School employees reported unusual high electricity consumption usage to Lei and he blamed overuse of air conditioners and heaters reads Chinese media report.

Lei started mining Etherum when it was trading at $226, in the month of January it peaked up to $1402 and currently now trading at $212.

school headmaster
Source ; Coindesk

Ethereum was launched on July 30, 2015. it uses Turing language, a new Ethereum is generated after every 14 seconds.

With Lei’s help, his school deputy headmaster also deployed one machine and started mining Etherum from last January.

Last February, Russian Scientists arrested for using All-Russian Research Institute of Experimental Physics supercomputers to mine bitcoins secretly. In another incident as 16 people, hacker group illegally mined cryptocurrency at Internet cafes.


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Guru baran
Guru baranhttps://gbhackers.com
Gurubaran is a co-founder of Cyber Security News and GBHackers On Security. He has 10+ years of experience as a Security Consultant, Editor, and Analyst in cybersecurity, technology, and communications.

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