Suspects arrested for Bitcoin miner server thefts

Police in Iceland has arrested a Bitcoin miner group suspected of stealing more than 600 computers.

11 suspects have been arrested in connection with a series of raids where thieves seized high-powered servers.

According to a report by  AP, the stolen computers were being used to mine cryptocurrencies.

The computer equipment was taken during four major heists on data centers around Iceland.

Renewable energy source

Almost 100% of the power generated in Iceland comes from renewable sources, making the country a popular location for data centers.

Nine of the arrested suspects have been released on bail, while two are still in custody.

The value of the hardware taken during the raids is estimated to be around $2million.

The stolen computer equipment has yet to be recovered.

Police are now contacting electricians, storage units, and internet service providers for help locating the computers.

They are being told to report signs the stolen servers had been reconnected, such as sudden spikes in power usage, according to AP newswire.

Bitcoin miner location

Iceland’s HS Orka power generation company reported in February that it was seeing an “exponential” rise in the amount of energy being used.

The rise is attributed to the increase in data centers used to mine and verify cryptocurrency transactions.

The energy company said the electricity required for crypto mining exceeded, for the first time, that used to power the homes of Iceland’s 340,000 inhabitants.