by Nadeam Nahas – a 39-year-old former Massachusetts state employee – is reportedly accused of placing a cryptocurrency mining operation in a remote space at a local school.
Court documents show he stole nearly $17,500 worth of electricity to power his supercomputers.
Disclosure of the crime
According to the last reception, Nahas set up his cryptocurrency miner in the basement of Cohasset High School. Prosecutors claimed he vandalized the facility and stole more than $17,000 worth of electricity to power his 11 computers. The machines were to be hidden in a niche next to the cooling system.
Police first uncovered Nahas’ illicit affair in December 2021, after the city’s infrastructure director learned that many computers and electrical wires had been lost. Law enforcement teamed up with a local IT director who determined that the 39-year-old had used the machine to conduct cryptocurrency mining operations.
Chief William Quigley of the Cohasset Police Department also estimated that he plugged his powerful computers into the school’s electrical grid.
The Coast Guard Investigative Service and the Department of Homeland Security disconnected the equipment, and a subsequent three-month investigation concluded that Nahas (who resigned in 2022) was the prime suspect in the illegal act.
He was supposed to appear in court earlier this week, but he didn’t show up. The judge in charge of the case issued a default warrant against him, meaning police are now searching for his whereabouts to bring him to justice.
Massachusetts has some of the highest energy prices
As of late 2022, a kWh in this area costs about 28 cents, with Hawaii, New Hampshire and Rhode Island being the only states charging higher fees. This may be one of the reasons Massachusetts has not become a bitcoin mining hub.
On the other hand, Texas with its relatively cheap electricity prices, vast territory, favorable climatic conditions and cryptocurrency-friendly authorities has become one. Riot Blockchain and other industry leaders are in Lone Star State.
The region also has become an attractive destination for Chinese miners who began relocating their businesses after the Chinese government imposed a total ban on all cryptocurrency activities in 2021.
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