Playstation 4 crypto mining btc

Illegal miners used an empty warehouse of an electricity supplier in Ukraine to connect to the electricity grid. Several thousand PS4 game consoles were used. But mining experiments were also allegedly carried out with its successor, the PlayStation 5. In Ukraine, the investigative authorities struck a major blow against an illegally operated mining farm near the city of Vinnytsa.



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WATCH RELATED VIDEO: PS4 Crypto Farm Actually Mining FIFA Cards, Not Bitcoin - IGN Daily Fix

Mining a single Bitcoin with a Commodore 64 will take at least 50 trillion years


When you think of a cryptocurrency mining farm, you might picture thousands of high-powered specialized mining rigs humming along in search of Bitcoin rewards, quite likely in some modern, hyper-cooled facility.

Bitcoin mining is big business, after all. Of the nearly 5, devices seized by authorities, some 3, of them were video game consoles, seemingly PlayStation 4s in photos shared by authorities, along with more than PC graphics cards and various PC processors, phones, flash drives, and documents.

According to an official report from the SBU , the mining operation was discovered in the city of Vinnytsia, which is nearly miles from the capital of Kyiv. The mining farm was reportedly located in a former warehouse of JSC Vinnytsiaoblenergo, a regional electricity provider.

The SBU claims that the offenders stole electricity from the provider, and used doctored meters to hide their tracks. Thousands of game consoles are notable for a mining operation, since mining is a global competition between server farms stocked with high-grade hardware.

PC graphics cards have been in short supply for years due to the incredible demand for high-powered GPUs for cryptocurrency mining—an energy-intensive process in which computers compete to solve complex equations to earn crypto rewards. Professional operations typically rely on the aforementioned specialized rigs called ASICs, which are purpose-built to maximize the mining hash rate compared to the energy required to operate. According to an expert Motherboard spoke to, though, these old consoles may have been financially viable after all.

While energy costs are a key consideration for most miners, this Ukranian operation allegedly stole its electricity. Given that, even a years-old game console could potentially turn a profit, depending on which coin it was mining.

Buying up some old PS4s and using the GPUs to mine is not the most efficient way, but with zero energy cost, it would still make for a profitable operation that is cheap to set up.

According to the mining profitability calculator at WhatToMine , Ethereum currently leads the list, with Ethereum Classic and lesser-known cryptocurrencies—which could be easier to mine but would come with a smaller payday—behind it.

Drik added that crypto miners often work in secrecy or leave the country to avoid potential raids. Sign In Create Account. Authorities raided a cryptocurrency mine that was allegedly stealing electricity to power 3, video game consoles, along with other hardware.

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PlayStation 4 Farm In Ukraine Busted, But It Wasn’t Mining Bitcoins

A raid on a crypto mining farm by Ukrainian authorities revealed that PlayStation 4 consoles were being used for a different kind of lucrative business. It seems that a crypto mining The farm arrested in Ukraine earlier this month was not using PlayStation 4 consoles to mine cryptocurrency, but to grind bots in FIFA to make money in the game. Crypto mining farms have lately become a threat to government officials in many countries as they consume a disproportionately high amount of electricity. In many cases, electricity is obtained illegally or involves shady businesses to keep running. Many countries still do not have laws that regulate the purchase and sale of cryptocurrencies, much less that facilitate an entire business around the generation of cryptocurrencies. Furthermore, the rise of crypto mining has also led to an unprecedented rise in the price of GPUs and has also led to subsequent shortages, making them a lucrative business for resellers. According to an investigation by Works , the consoles seized as part of the raid by government authorities in Ukraine comprised the PlayStation 4 Slim model, and not the more powerful PlayStation 4 Pro models.

The PS4 consoles thought to be used for cryptocurrency mining were actually FIFA bots for leveling accounts & earning in-game currency.

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It is of course technically possible, but you would have to have custom made additions to your hardware and specialized custom software to run it. To mine cryptocurrency, you need to have an android smartphone at least. This is because it has the most suitable mining-friendly operating system to facilitate Bitcoin mining. The mobile market is already flooded with various apps designed for android that you can use to mine Bitcoin directly from your home. Primarily PS3 is made for playing games, obviously. In order to do so, users install customized firmware on PS3, most commonly Linux. How to Mine Dogecoin on Android. Phones are not even close to being powerful enough to mine Dogecoin. All a matter of opinion and your options though. I say go with a low wattage miner like a gridseed if you want to get a few hundred coins a day.


Ukrainian authorities seize 3,800 PS4 consoles used for crypto mining

playstation 4 crypto mining btc

Malaysian authorities seized 1, bitcoin mining rigs, laid them out in a parking lot at police headquarters, and used a steamroller to crush them, as part of a joint operation between law enforcement in the city of Miri and electric utility Sarawak Energy. A video of the event posted last week by local Sarawak news outlet Dayak Daily has since gone viral on social media. Acting on a tip, authorities on the island of Borneo confiscated the rigs in six separate raids between February and April. Police opted to crush the mining gear rather than sell it, in accordance with a court order. Other countries, like China, have taken a different route, reportedly auctioning off seized rigs.

The former Sony executive believes the metaverse concept of dividing the real and virtual worlds is pointless.

Thousands Of PS4 Pros Discovered In Warehouse Raid [Update]

Last week, Cointelegraph reported the seizure of 3, PlayStation consoles allegedly used for mining cryptocurrencies. The confiscated playground equipment belonged to a hardware depot that was discovered by Ukrainian authorities during a raid on a farm that allegedly manipulated electricity meters to steal electricity from the local grid. Based on initial reports at the time, PS4 consoles, graphics cards, processors, and other hardware used for illegal cryptocurrency mining operations were found at the crime scene. Players usually have to earn money and FUT tokens by winning in-game soccer matches, but the bankrupt warehouse is said to have created black market variants of these in-game items. According to Delo, the Ukrainian secret service has yet to confirm or deny its results, while the chosen agency keeps the details of the ongoing investigation secret.


No Point Separating the Virtual From The Real, Father Of Playstation Criticizes Metaverse Push

When you think of a cryptocurrency mining farm, you might picture thousands of high-powered specialized mining rigs humming along in search of Bitcoin rewards, quite likely in some modern, hyper-cooled facility. Bitcoin mining is big business, after all. Of the nearly 5, devices seized by authorities, some 3, of them were video game consoles, seemingly PlayStation 4s in photos shared by authorities, along with more than PC graphics cards and various PC processors, phones, flash drives, and documents. According to an official report from the SBU , the mining operation was discovered in the city of Vinnytsia, which is nearly miles from the capital of Kyiv. The mining farm was reportedly located in a former warehouse of JSC Vinnytsiaoblenergo, a regional electricity provider. The SBU claims that the offenders stole electricity from the provider, and used doctored meters to hide their tracks. Thousands of game consoles are notable for a mining operation, since mining is a global competition between server farms stocked with high-grade hardware.

Does Bitcoin Mining Pay? What other cryptocurrencies can I benefit from? Components, safes and other equipment for mining, transmission and security of.

You may recall a story around a week ago that following a raid on an industrial unit in Ukraine, while authorities expected to find an illegal cryptocurrency mining operation largely based on the fact that massive amounts of electricity was being stolen , what they discovered instead was 3, PS4 consoles all running away on masses of racks. While the initial presumption was that these systems had been modded to grind some form of coin, however, following a report via Eurogamer , it turns out that while that was technically correct, what these PS4 consoles were actually working on had absolutely nothing to do with cryptocurrency. The purpose of them being to grind away at earning the in-game currency or building ultimate teams that would then see the accounts sold on to people who want an instant leg-up in the game. While this has not yet been categorically confirmed by Ukrainian authorities, eagle-eyed people spotted in the image below masses of disks seemingly ejected from the consoles on the left side.


Intel chip; Image for representation Image: Reuters. You craved for all sorts of smartness with gadgets. You got all sorts of smartness with gadgets. From your toothbrush to your new car.

Two months ago, we noted what we considered was a major cryptocurrency mining procedure employing PS4s in Ukraine , but it may well not have been a cryptocurrency mining operation.

Ukrainian authorities revealed the discovery of a huge farm dedicated to cryptocurrency mining. More than 5, computers were found at the site, including 3, Sony PlayStation 4 consoles , running on large amounts of stolen electricity. Through a statement , the Security Service of Ukraine detailed that the biggest problem was not mining, but energy theft. Behind the farm was a large-scale macro electricity theft operation to power the devices that mined Bitcoin and other cryptocurrencies. The facility had tampered electricity meters that did not record actual energy consumption. What's more, They claim that the activity was so demanding that it could have caused power consumption spikes that left other people without power.

Thousands of PlayStation consoles were last week modified to mine crypto. The authorities also seized over graphics cards, processors, phones, flash drives, and documents belonging to the operation. The operation was mining crypto in an old regional electricity provider warehouse in Vinnytsia, just over miles outside of the Ukrainian capital of Kyiv.


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