Tag Archives: Mining

Principal fired for running secret cryptocurrency mining scheme at school

A get rich quick scheme has spectacularly backfired on a headmaster and vice-principal as the pair have both been fired for racking up outrageous energy bills by using their school to run a secret cryptocurrency mining workshop. Principal Lei Hua is said to have used eight school computers to run a clandestine Ethereum mining network in the Hunan province for ...

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Ghost train: Runaway locomotive derailed by mining company after 92km without driver

Mining giant BHP Billiton was forced to deliberately derail a 268-car freight train, loaded with iron ore, after it had traveled an alarming 92km across Western Australia with no one on board. The driver alighted to inspect one of the wagons at approximately 4am on Monday when the train, reportedly consisting of four locomotives and 268 wagons, took off for ...

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German police forcibly remove protesters calling for stop to coal mining (VIDEO)

German police were seen removing protesters who had chained and tied themselves to stretchers as part of a mass protest this weekend. People rallied against one of the country’s most ancient forests being razed for coal mining. Footage captured by Ruptly video agency shows police officers forcibly dragging activists away as they occupied train tracks as part of their ‘End ...

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Cryptocurrency mining attacks using leaked NSA hacking tools are still highly active a year later

It’s been over a year since highly classified exploits built by the National Security Agency were stolen and published online. One of the tools, dubbed EternalBlue, can covertly break into almost any Windows machine around the world. It didn’t take long for hackers to start using the exploits to run ransomware on thousands of computers, grinding hospitals and businesses to ...

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Russia & China agree to joint gold mining project in Siberia

The Russian government has approved a cooperation agreement with China on developing the Klyuchevskoye gold ore deposit in the Trans-Baikal region. The decree was signed by Prime Minister Dmitry Medvedev, and the project is expected to be operational in two years. The planned volume of ore extraction is over 12 million tons per year. Development of the Klyuchevskoye gold deposit ...

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Space mining will produce world’s first trillionaire

The next trillion-dollar industry will be in the mining sector, and the world’s first trillionaire will make his/her fortune by mining in outer space, Goldman Sachs claims. The prediction is echoed by renowned astrophysicist Neil deGrasse Tyson, who says: “The first trillionaire there will ever be is the person who exploits the natural resources on asteroids.” “There’s this vast universe of ...

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Ethereum falls after rumors of a powerful mining chip surface

Rumors of a new ASIC mining rig from Bitmain have driven Ethereum prices well below their one-week high of $ 585. An ASIC – or Application-specific integrated circuit – in the cryptocurrency world is a chip that designers create for the specific purpose of mining a single currency. Early Bitcoin ASICs, for example, drove adoption up and then, in some ...

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‘Crypto-jacking’: Bitcoin rise prompts hackers to ditch ransomware for mining fraud

As bitcoin soared to the $ 20,000 mark last year, cyber-criminals increasingly turned their attention to cryptocurrency users. ‘Cryto-jacking’ cases catapulted in 2017 as cryptocurrency prices rose, according to new research. The sky-rocketing value of some cryptocurrencies in 2017 apparently prompted hackers to move away from tried and tested ransomware as a source of extortion and direct their attention towards ...

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Apple could be buying cobalt from mining companies directly

Cobalt is the new oil. Car companies and battery manufacturers are all rushing to secure multiyear contracts with mining companies for their lithium-ion batteries. According to a Bloomberg report, Apple is also participating in this game as the company wants to secure its long-term supplies. The company has never done this before with cobalt. Apple relies on a ton of ...

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Bitcoin mining in Iceland may use more electricity than households

Iceland’s crypto miners are likely to consume more electricity this year than all of the country’s homes, according to a local energy firm HS Orka. Mining of cryptocurrencies is booming in the land of fire and ice, due to low-cost energy. More and more potential customers are ready to get in on the act, according to Johann Snorri Sigurbergsson, the ...

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