Crypto Mining Farm Robbed near Moscow

• Armed bandits raided a sizable cryptocurrency mining operation not far from the Russian capital, Moscow. In the most recent instance of coin minting gear theft, which has been on the upswing in Russia, the suspected thieves seized dozens of graphics cards.

Armed robbers raided a mining facility

According to a recent report, criminals invaded a crypto mining farm in the town of Kuchino, close to the city of Domodedovo in Moscow Oblast. The Vkusvill grocery chain’s storage accommodated the mining operation. Personnel of the security firm in charge of the facility claim that four masked persons invaded the warehouse, made threats with guns and cuffed the guards.

After then, the assailants stole four containers containing about 100 graphics processing units (GPUs) and other pieces of equipment needed to harvest digital currency. According to law enforcement officials, the stolen mining machines are worth about 1 million rubles, or more than $18,000. By taking the storage systems containing the video recordings from the security cameras, the culprits also attempted to cover their tracks. Authorities in Russia are currently searching for robbers who would face up to 12 years in jail if they are apprehended.

Previous cases of a similar theft

Following the disappearance of the owners of an Irkutsk mining hotel in June, which resulted in the theft of mining equipment valued at around $1.9 million from its guests, this is yet another instance of coin minting equipment theft in Russia. In recent years, as mining has become more and more popular, there had been an increase in these events. One of the crypto-related industries that have not yet been authorized in the Russian Federation is bitcoin mining. Some of the country’s areas are seen as having a comparative edge for the growth of the sector due to their cool temperature and affordable energy supplies.
Russian authorities have increased power prices for those who mine cryptocurrency at home using makeshift equipment in their basements and garages in an effort to stop the practice from spreading. The problem has led to excessive usage and disruptions in housing neighborhoods in locations where the cost of energy is highly subsidized for the inhabitants.