Chinese Head fired after crypto mining at school

A Chinese headmaster has been fired after secretly mining cryptocurrency using his school’s electricity supply.

The headmaster dismissed reports from teachers of excessive power consumption in the building as the fault of air conditioning units and heaters, according to the BBC.

However, when they found the eight cryptocurrency mining machines he had hooked up to the power supply, the game was up.

They reportedly ran up an electricity bill of 14,700 yuan (£1600) mining Ethereum 24 hours a day.

After laying out 10,000 yuan on just one mining machine and seeing the exorbitant electricity costs that resulted, the headmaster apparently decided to minimize his overheads by moving the operation to the school in summer 2017.

Read entire article Chinese Head fired after Cryptomining at school | Phil Muncaster | InfoSecurity

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