Cryptocurrency

Polish police said on Friday that they had uncovered a bitcoin mining operation at their own headquarters in Warsaw.

Police spokesman Mariusz Ciarca told TVN24 news channel, “A civilian employee, not a police officer, attempted to steal electricity to mine bitcoins.

“Unfortunately this happened at a police site,” Ciara said, emphasizing that the suspect at some stage has access to the police database.

Crypto-mining—the process by which computers mint new virtual currency and validate transactions—requires vast amounts of energy and processing power.

The process typically involves a large number of sophisticated computers creating a specially designed “rig” that runs the complex calculations needed to maintain a cryptocurrency network.

While energy-hungry, this process could be lucrative with each bitcoin currently worth over 32,600 euros ($38,800).

By Alex Alena

Alex Alena has been the lead news writer at Cryptocurrency Updates. With a degree in communications, Matt has an uncanny ability to make the most complex subject matter easy to understand.