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mining cryptocurrency

Japanese man mines in his company dormitory and makes extra $500 a month

Cryptocurrency has been the highlight of this decade. Anyone with the internet access must have come across some news, an ad, or an announcement about one or the cryptocurrency. Unlike fiat currency, the cryptocurrency is not printed, they’re mined from the blocks of existing transactions. Cryptocurrency is a piece of code that has certain monetary value in the real world.

Something that doesn’t even exist is valuable monetarily. Which is evident enough to accept the fact that people would do anything, sometimes illegal things to mine the cryptocurrencies.

One such incident came out from Japan where a man used his company’s dormitory to mine cryptocurrency without any permission. If you’re not aware, mining cryptocurrency consumes a lot of electricity as it involves using powerful computers to process algorithms that solve complex puzzles to verify the existing transactions and add that to the blockchain.

 

Sora-san, a Japanese man who illegally used his company’s dormitory to mine cryptocurrency. Sora-san works for a major Japanese manufacturing company.

 

“Virtual currencies are processed cryptographically. A miner is a machine that supports this encryption process. If you mine Bitcoin, you can process 12.5 bitcoins in 10 minutes, which would be the equivalent of 10 million yen, (US$ 90,000). If you mine Ether, you can make 3 ether worth 200,000 yen (US$ 1,800) in 10 minutes.” He said in an interview with Daily SPA.

Below is his setup in his company's dormitory.

 

mining cryptocurrency

But Sora chose a simpler and cost-efficient way to mine cryptocurrency in Japan.

“Because mining requires a huge amount of electricity, the common sense would be to do mining businesses in Mongolia or China, where electricity costs are very low, compared to Japan. But I live in a company dormitory. My electricity costs are null. I thought I gotta take advantage of this opportunity,” Sora said.

 

Sora said he’s able to mine 0.8 ether a month, which is around 50,000 yen ad $500 a month. Considering the standard of living in Japan, an additional 50,000 yen is more than enough to live a comfortable life. Once the machine is set up, Sora doesn’t have to do anything. It is like free income without any efforts other than the initial setup.

 

Sora started doing this around six months ago in his dormitory. He began by investigating the limit of electricity that is free to use. Sora, along with his colleague, bought a bunch of dryers and let them run day in and day out.

“I was worried that the dorm manager would notice it, but I was able to figure out the number of usable watts and I calculated that it would cost more than 20,000 yen ($200).” He said.

 

“Now that I found out that I can mine in my room, I am planning to extend installing miners in the rooms of my close colleagues,”. Because the company dormitory includes 100 employees, even if the electricity bill rises a little, it won’t get noticed, Sora added.

This clearly is a punishable offense. He himself is worried about getting caught. What do you think about this? Should this be reported? Or let Sora enjoy reaping money out of his company? Let us know in the comment section below.

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