Neighbor wants to get rich with bitcoins, the whole street has to bleed


How is it possible that a house in the middle of a typical residential area is converted into an energy-guzzling Bitcoin mine?

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The Bretagnehof in Woensel, near Eindhoven. Residents cannot reach their garage, have to cycle or park their car further away. Neighborhood children have to cross a ditch to get to the slide.

The reason? A neighbor wants to mine Bitcoins. At the end of January there must be two “thick knots” of power cables between the power station and a house. To supply 600 amps of current. Good for about 120 refrigerators. In a residential house.

Bitcoin is a crypto currency; a digital payment method with which people speculate or invest, just how you see it. This system requires a lot of computing power. This is partly because complex calculations are made to check transactions in a decentralized way. This uses so much energy worldwide that it can supply a country like Norway with power.

How is it possible that a house in the middle of a typical residential area is converted into an energy-guzzling Bitcoin mine? Easy. The resident in question has neatly filled in an application form for a larger connection. And the Municipality of Eindhoven has duly honored this request. The reason given was “not necessary”. Network company Enexis supplies the connection and cables, a contractor does the rest. Cost? The resident pays for this for an amount “of a nice car”, according to the contractor.

While hundreds of thousands of families live in energy poverty, this neighbor can start cashing in from February. If his computer is the first to solve a calculation, he will receive 6.25 bitcoins with a group of other miners. At the current exchange rate, that is more than 230,000 euros. Every ten minutes.

Quite lucrative, such a Municipal Office.. For energy wealth.

read the story in the Eindhovens Dagblad.

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