He was stealing energy from the school campus to mine Bitcoins. Now he faces charges

A former Cohasset High School employee secretly mined cryptocurrency for eight months using the school's energy resources.

According to reports from the Cohasset, Massachusetts Police Department, Nadeam Nahas used nearly $18,000 worth of electricity from the school campus to power cryptocurrency miners. His criminal activity was illegal, and he faced charges of theft.

He was stealing energy to mine Bitcoins

Stories about employees illegally using the resources of companies and institutions where they are employed to mine digital currencies have been multiplying in recent months and years. This time, a man from Cohasset, Massachusetts, was charged with such an illegal act.

According to reports from local police who confiscated mining equipment, Nadeam Nahas illegally installed a number of cryptocurrency miners that secretly stole electricity from Cohasset High School for 8 months for digital currency mining operations.

According to estimates, the value of stolen electricity at that time amounted to almost 18 thousand dollars. The man in question was accused of stealing electrical resources. ASIC devices, probably used by the accused for Bitcoin (BTC) mining, were found at the school.

BTC is gaining value

Although the largest of the cryptocurrencies has had a hard year 2022, its rate has increased by over 40% since January this year. Currently, its rate oscillates around $ 23.8 thousand for one coin. At the current exchange rate, it is over 65% away from ATH.

Despite the large drop in the value of Bitcoin since the peak of historical quotations, its miners are intensely competing with each other to create new blocks. While some companies in this industry have failed during the crypto winter, others better prepared have seized the opportunity to increase their market share. To this end, the most successful mining companies have purchased additional cryptocurrency mining equipment at more favorable prices.

The oldest digital currency still remains attractive for many investors. Its supporters are counting on the return of the bull market. With the recent increases in the value of BTC, positive sentiment began to be hosted among members of the cryptocurrency community. According to data from the alterative.me platform, until recently they showed greed.