Authorities in Zhenjiang, a city in east China’s Jiangsu Province, have arrested 13 men after they reportedly stole electricity worth more than 20 million yuan (roughly $3 million) to mine bitcoin. The power authority of Zhenjiang noticed an unusual spike in electricity consumption and abnormal line loss in some factories, and reported it to the local police. Investigations found that a gang of 13 suspects purchased thousands of crypto mining machines but could not afford the astonishing electricity bill the mining operations run, so they pulled wires to steal electricity to fuel their power-hungry machines. During ... (full story)