Bitcoin mining is not just a passing trend. It is probably the future. It’s true it has been around for quite some time but only in recent years has its popularity exponentially exploded. Suddenly, a large number of people are interested in alternative currencies or digital currencies like Bitcoins. One bitcoin can cost around $8,000-$10,000 today. It is really a luxurious investment if you had the foresight to invest in it early on. However, there is more to bitcoin mining than it being a lucrative means to earn a big amount of money fast. Mining bitcoins require a lot of computing power and strong computers to do the job 24/7. It is especially draining to any device, which is supercomputers are often used or computers with extensive servers because they are constantly required to solve endless mathematical questions to ensure everything runs smoothly.
Hence, the rise of malware attacks that either cripple devices and systems in exchange of payments in the form of bitcoins or the introduction of malwares into various devices in order to tap these devices for power and mine bitcoins without the owner realizing what is going on. Once the owner realizes what is happening, they won’t hesitate in going after services like RAID drive data recovery to get their lost data back and also get their computer fixed. This has been going on for quite some time but perhaps the demand for bitcoins and other alternative currencies still can’t be satisfied as recently hundreds of servers used to mine Bitcoin were stolen in Iceland. It is interesting to note that these servers that are already used to mine bitcoins will likely be used for the same reasons too by the thieves.
About 600 computer servers used to mine bitcoin were stolen in Iceland in a series of large-scale robberies in December and January, according to police.
The servers were taken from data centres in Reykjanesbær, near Reykjavik airport, and Borgarnes on Iceland’s west coast.
About 10 people have been brought in for questioning, and two Icelanders in their 20s and 30s are being held on suspicion of involvement in the thefts, a police spokesman for south-west Iceland told AFP on Wednesday.
He suggested the thefts could be linked to organised crime, saying: “Everything points in that direction.”
We are talking about servers here not just one computer. It takes a lot of planning in order to pull off this heist since servers are usually bulky and difficult to transport around. Moreover, we are dealing with servers that are already used in mining bitcoins. What are the odds for an ordinary thief to steal these serves if they do not already have prior knowledge about these things? It is one thing to get a server infected because you can easily just have it fixed with https://www.harddriverecovery.org/raid/ but losing the actual device is also one thing.
The stolen equipment is believed by police to be a part of organised crime.
A spokesman said: “Everything points in that direction.”
About 10 people have been brought in for questioning over the missing servers and two Icelanders in their 20s and 30s have been arrested.
Police are now contacting internet service providers as well as electricians and storage units to ask them to contact the police is they experience a sudden spike in energy usage.
Since Bitcoin was first mined in 2009, the virtual money has seen its value surge and it reached an all time high of more than $17,000 (£12,000) in December 2017.
To say that these servers are expensive pieces of equipment is also an understatement because you do not just use ordinary computers and servers in running a bitcoin mining business. And since it is common knowledge that bitcoins can be mined more easily when the servers are placed in cooler places like Iceland, most bitcoin miners have properly relocated to such countries to take advantage of the cool weather that supports optimal bitcoin mining, so everyone’s happy. Iceland, for instance, is the number one choice for alt miners and you can find countless data centers and blockchain technologies located there. People are perhaps taking advantage of the situation while bitcoin is still hot and profitable because this is a volatile currency whose value can suddenly plummet without warning.