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Chinese School Principals Caught Mining Ethereum At Work

Two principals at a Chinese school got in hot water after stealing power from the institution to mine the ethereum cryptocurrency.

According to a report from Hong Kong news outlet HK01 on Wednesday, Puman Middle School in Hunan province had been experiencing higher than normal noise levels from its computers over recent months, even on the holidays. The school’s IT network had also significantly slowed, while electricity consumption had almost doubled from July to November.

The school’s general manager had initially put the energy usage spike down to overuse of air conditioners, but an investigation revealed that that the school’s principal, Lei Hua, and vice principal, Wang Zhipeng, had installed nine computers worth around $7,000 in total to mine the ethereum cryptocurrency, the report states.

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