Monday, 12 November 2018 05:58

Headmaster sacked for mining cryptocurrency at school

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Headmaster sacked for mining cryptocurrency at school Pixabay

A Chinese high school in the province of Hunan has sacked its headmaster after he was found to be using the school's electricity to mine the ethereum cryptocurrency using eight machines.

A report in the South China Morning Post said Lei Hua had run up a bill of 14,700 yuan (US$2120) in about a year.

It cited a report by a state-owned radio station in Hunan as saying Lei was sacked in October.

The report said Lei started out mining at his home in 2017 after buying his first machine for 10,000 yuan.

After discovering that it was consuming about 21 Kilowatt-hours each day, he relocated it to the school and added another seven machines over a year.

When the electricity consumption was noticed, Lei blamed it on air-conditioners and heaters.

Then, in January, the deputy headmaster also started mining at the school, after obtaining a machine with help from Lei.

There was no information on what penalty Lei had attracted.

Ethereum is currently trading at about US$210.

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Sam Varghese

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Sam Varghese has been writing for iTWire since 2006, a year after the site came into existence. For nearly a decade thereafter, he wrote mostly about free and open source software, based on his own use of this genre of software. Since May 2016, he has been writing across many areas of technology. He has been a journalist for nearly 40 years in India (Indian Express and Deccan Herald), the UAE (Khaleej Times) and Australia (Daily Commercial News (now defunct) and The Age). His personal blog is titled Irregular Expression.

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