Menge Archives - Coin Engineer https://coinengineer.net/blog/tag/menge/ Btc, Coins, Pre-Sale, DeFi, NFT Mon, 05 Feb 2024 12:08:44 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 https://coinengineer.net/blog/wp-content/uploads/2024/04/cropped-Coin-Engineer-Logo-Favicon-2-32x32.png Menge Archives - Coin Engineer https://coinengineer.net/blog/tag/menge/ 32 32 Allegedly, They Are Doing Crypto Mining at School https://coinengineer.net/blog/allegedly-they-are-doing-crypto-mining-at-school/ https://coinengineer.net/blog/allegedly-they-are-doing-crypto-mining-at-school/#respond Mon, 05 Feb 2024 12:08:29 +0000 https://coinengineer.io/blog/?p=11038 As known in the US, the excessive energy consumption problem in crypto mining is under investigation. A new case has emerged regarding this issue. You might like: Bitcoin and Cryptocurrencies Update – February 5th In the Patterson Joint Unified School District in New Jersey, two senior administrators set up an illegal cryptocurrency mining farm inside the

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]]> As known in the US, the excessive energy consumption problem in crypto mining is under investigation. A new case has emerged regarding this issue.

You might like: Bitcoin and Cryptocurrencies Update – February 5th

In the Patterson Joint Unified School District in New Jersey, two senior administrators set up an illegal cryptocurrency mining farm inside the school, and the Department of Justice filed a lawsuit against them.

It is alleged that Assistant Superintendent Jeffrey Menge and IT Director Eric Drabert used the school’s electricity and resources for cryptocurrency mining.

As a result of the excessive use of graphics cards and electricity in the school, electricity costs increased. In addition, the Department of Justice states that Menge earned between $1 million and $1.5 million, and Drabert earned between $250,000 and $300,000 through this illegal means.

Although it is not specified which crypto was being mined, given the high energy consumption, it is likely that popular coins like Bitcoin were being mined.

The case will conclude in May. It is said that the defendants will face up to 10 years in prison and a $250,000 fine.

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