Thursday, September 22, 2016

Brothers Face Jail Time for Stealing Power to Mine Bitcoins


Two brothers in the Netherlands face months in prison after allegedly siphoning power to fuel a small bitcoin mining operation, Dutch authorities say.

The case dates back to 2014, when the brothers, whose names were not disclosed, are said to have been caught stealing electricity from a local utility provider in order to power bitcoin mining devices at a location in Rotterdam. Prosecutors said this week that, in total, the brothers mined roughly €200k ($223,000) worth of bitcoin prior to being caught.

According to the Openbaar Ministerie, the public prosecutorial service in the Netherlands, the brothers have both been charged with money laundering. One brother, who owned the property in which the devices were kept, has also been charged with stealing power to grow marijuana plants at the same location.

Local reports suggest that the younger brother, aged 39, faces up to fifteen months in prison if convicted. The older brother, aged 42, could be sentenced to as many as five months in prison.

Fines as high as €250,000 may also be levied if the two are convicted.

A decision is expected in the next two weeks, local news source De Gelderlander reported.

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