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Can Too Much Crypto Cause Fires?

A fire broke out in St. Petersburg, Russia, caused by a cryptocurrency mining farm; the fire injured a 35-year-old owner of the crypto mining equipment.

The Ministry of Emergencies commented on local media that the fire’s cause was that the owner did not install a cooling system for the equipment. The mining operator was hospitalized with burns on his hands, back, and neck.

The report stated that four fire engines, 16 firefighters, and 40 minutes of work were used to put out the mining equipment’s fire.

This is not the first incident in Russia, where crypto mining farms caused a fire. A year ago, a mining farm located in a private car garage in Vologda caught fire and burned all the mining equipment. Another incident happened when a Bitcoin mining rig exploded into flames, which set other flats nearby on fire, in Artem, near Vladivostok, Russia. The national power grid company Rosseti lost about $6.6M last year because of mining farms illegally plugged into the electric grid.

As of now, authorities suspected that miners had selected into power supplies of residential blocks to acquire free power, which overheats the electrical circuits causing large fires.

The illicit mining in Russia goes a long way back in 2018; Reports emerged about how Russian security officers arrested many scientists trying to use one of Russia’s most powerful supercomputers to acquire Bitcoin, located in the Federal Nuclear Centre in Sarov, located in western Russia.

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