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cheech14 t1_j9vzl71 wrote

What were his gain$ on the $18k of electricity?

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StumpyMcStump t1_j9w50rs wrote

Computers that “seemed out of place”. No, entirely usual to have 40 pcs in a crawlspace in a school.

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TheAVnerd t1_j9wkzfj wrote

The real fucking criminal here is the power companies

“Where Cohasset is located in the Boston area, “electricity costs have exceeded the national average” by at least 48 percent over the past five years, the US Bureau of Labor Statistics reported.”

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PeePooDeeDoo t1_j9xdb4e wrote

Not the hero we need but the one we deserve 😔

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charons-voyage t1_j9y1ett wrote

Replying to HoneydewOk1731 (#1,987,407)

Thing I never understood about crypto is everyone says it an alternative to fiat money, but…everyone buys it with $, then watches with the intent to make more $, then sells for $ (or goes bankrupt lol). So if the whole point is making $, why not go to casino or invest in actual stocks of real companies with tangible products? 🤷‍♂️

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Ill-Poet-3298 t1_j9yas5r wrote

>Then, CPD called the US Coast Guard Investigative Service

Who knew the Coast Guard were crypto experts.

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Master_Dogs t1_j9yirc2 wrote

Replying to cheech14 (#1,979,165)

Probably quite a bit. November 2021 is around the peak for Bitcoin prices and it was relatively high for others too. Assuming it was running for a few months before, you'd probably have made a decent chunk with a dozen or so computers mining 24/7 for "free".

$18k of electricity is also just the running costs. The photo in the article shows at least a dozen computers of sorts, each of which likely required a few hundred to a few grand in computer parts to successfully mine crypto. I'd assume they still profited after purchasing/acquiring all of the computers though, since the electricity costs are usually the killer for crypto mining.

IDK what computers/devices they were using though. NiceHash says some of the top ASIC miners today could be making $29 USD per day. The top one is like a $7k device though. But assuming this guy dropped his life savings in this scam, maybe he managed to generate a few grand a month. Since $29 * 12 * 30 is like $10k, so maybe a few months of secret mining got him his investment back and he pocketed a chunk of change. And that's with the current crypto pricing slump - Bitcoin has dropped by like 3x since November 2021. So maybe this guy made upwards of $30k/month if he had the right mining hardware and the price of crypto in his favor.

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IrelandDzair t1_j9yltqm wrote

someone come get the south shore they’ve been absolutely off their rocker lately especially Cohasset

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swap_catz t1_j9ymevh wrote

Was joking with my wife a few weeks ago how in 15 years you're going to see tv shows called Crypto Heist instead of Money Heist. The implausibility of Money Heist today is that banks don't make or keep real paper money anymore. The implausibility of Crypto Heist will be how the thieves will violate the laws of physics and computer science, and somehow no one will notice the electricity bills being jacked up 2-3x for months.

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