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Two School District Staff Members Charged For Mining Crypto

Two School District Staff Members Charged For Mining Crypto

The US DOJ has charged two staff members of a school district for operating a crypto-mining operation on the school’s premises. 

The United States Department of Justice (DOJ) identified the two senior staff members of the Patterson Joint Unified School District in California for allegedly operating a crypto-mining operation inside the district school’s premises. The two staff members – Jeffrey Menge, assistant superintendent and chief business officer, and Eric Drabert, IT director worked together to operate a crypto mining farm using the school’s equipment and electricity to generate profits. 

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The DOJ stated that the two officers purchased high-end graphics cards along with other school district properties for the crypto-mining operation. However, the statement did not specify the number of schools involved in the operation which comprises 10 schools serving approximately 6,200 students as well as the type of cryptocurrency mined.

According to recent data, some of the most commonly mined cryptocurrencies include Bitcoin (BTC), Ravencoin (RVN), Dogecoin (DOGE), and Monero (XMR). Mining a single Bitcoin requires about 266,000 kilowatt hours of electricity which takes about seven years

In addition, the DOJ accused Menge of stealing between $1 million and $1.5 million while Drabert allegedly stole between $250,000 and $300,000.

This case comes amid the US energy regulator’s recent crackdown on crypto miners as part of an initiative to decrease energy waste in the nation. In fact, on February 1, the United States Department of Energy announced that crypto miners should report their energy consumption for the upcoming six months. The announcement follows concerns about the recent surge in Bitcoin prices leading to an increase in crypto mining activities. 

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Sophia Cruz
Financial Writer - Asian & European Desks
Sophia is an experienced writer, reporter and newsdesk member, mostly on the financial sectors. For the past 5 years Sophia has covered a wide variety of topics such as the financial markets, economics, technology, fin-tech and trading. Sophia has been a part of the FX Leaders team since 2017 and works on producing valuable content and information for traders of all levels of experience.
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