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Ukrainian Crypto-Mine With 3,800 PS4 Consoles Raided!

Mega PS4 Crypto-Mine : How Much Can It Make?

The Ukrainian Security Service just raided an illegal crypto-mining operation using 3,800 PS4 consoles!

Take a look inside this Ukrainian PS4 crypto-mine, and find out how much they’re making!

 

Ukrainian Crypto-Mine With 3,800 PS4 Consoles Raided!

Cryptocurrency miners have turned the gaming world upside down, buying up graphics cards and even gaming laptops in bulk. As long as it has a GPU, they are snatching it up!

But their demand for more computing power does not seem to be sated, and they even turned their attention to old PS4 consoles!

While many have pooh-poohed the possibility of mining cryptocurrency using PS4 consoles, the Ukrainians went ahead and did it!

On 8 July 2021, the Ukrainian SBU (Sluzhba bezpeky Ukrayiny, Security Service of Ukraine) raided the LARGEST illegal crypto-mine in Ukraine, finding :

  • 3800 PS4 gaming consoles,
  • more than 500 graphics cards,
  • 50 processors,
  • documents accounting their power consumption,
  • notebooks, phones, and flash drives.

By hiding inside the former premises of JSC Vinnytsia Oblenerho – a leading Ukrainian power supply company, this crypto-mine conveniently and quietly stole power from the JSC Vinnytsia Oblenerho network!

According to preliminary estimates, they were siphoning about 5 to 7 million Ukrainian Hryvnia (approximately US$180,000 to 260,000 / RM770,000 to 1.08 million) every month!

 

How Much Can This Ukrainian PS4 Crypto-Mine Make?

The PS4 and PS4 Slim use a custom AMD Radeon 7970M GPU, with 18 compute units and 8 GB of GDDR5 memory with 176 GB/s of memory bandwidth.

It is roughly 20% slower than the AMD Radeon 7970M mobile GPU, but cryptomining is less about processing power, and memory bandwidth.

So let’s just call PS4 Slim equivalent to the Radeon 7970M for mining purposes, which delivers a hash rate of about 8.35 H/s.

Each PS4 console would be fast enough to generate 0.00013896 BTC worth US$4.62 per month, as of 12 July 2021.

So that Ukrainian PS4 crypto-mine with 3,800 PS4 consoles should generate about 0.528048 BTC worth US$18,041 per month, as of 12 July 2021.

That’s really not a lot of profit to be honest, especially when you consider how much electricity they are actually using!

In fact, it is really a loss-making operation if they actually paid for their electricity – they would lose $9 for every dollar they make!

 

Ukrainian SBU : Official Statement On PS4 Crypto-Mine

This is the English translation of the official statement by the Ukrainian SBU on the illegal PS4 crypto-mine :

The Security Service of Ukraine has exposed and documented the illegal extraction of large amounts of electricity in Vinnytsia. The attackers exchanged cryptocurrency directly in one of the former premises of JSC Vinnytsiaoblenerho. Currently, it is the largest underground crypto-farm discovered by Ukrainian law enforcement agencies: almost 5,000 units of computer equipment were seized.

SBU officers established that the illegal crypto-farm was created by residents of Kyiv and Vinnytsia. They used one of the former warehouses of Vinnytsiaoblenerho JSC, which is located on the company’s industrial site.

The attackers illegally took electricity from the networks of JSC Vinnytsiaoblenerho. To hide their activities, they used conventional means of accounting for electricity consumption.

According to preliminary conclusions of experts, the monthly amount of losses from such activities can range from 5 to 7 million UAH. At the same time, the illegal withdrawal of electricity could lead to more global consequences – entire neighborhoods of Vinnytsia could be left without electricity.

Militiamen registered criminal proceedings under part 2 of Art. 188-1 (theft of water, electricity or heat through its unauthorized use) of the Criminal Code of Ukraine.

During the authorized searches at the place of operation of the farm and at the addresses of the defendants, the following were seized:

  • 3800 game consoles;
  • more than 500 video cards;
  • 50 processors;
  • draft documentation on electricity consumption accounting;
  • notebooks, phones, flash drives.

Currently, operational and investigative actions are underway to establish the full range of persons involved in illegal activities, including the involvement of officials of JSC “Vinnytsiaoblenergo”.

Exposure measures were carried out by the State Security Counterintelligence Protection Service in the field of economic security of the SBU together with the USBU in Vinnytsia Oblast and the Main Investigation Department of the National Police of Ukraine and under the procedural guidance of the Prosecutor General’s Office.

 

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PS4 Consoles Now Used To Mine Cryptocurrency?

Is it possible that cryptocurrency miners are now using Sony PS4 consoles to mine Bitcoin or Ethereum?

Take a look at the viral photo, and tell us what you think!

Read more : Ukrainian Crypto-Mine With 3,800 PS4 Consoles Raided!

 

PS4 Consoles Now Used To Mine Cryptocurrency?

Cryptocurrency miners have turned the gaming world upside down, buying up graphics cards and even gaming laptops in bulk. As long as it has a GPU, they are snatching it up!

But their demand for more computing power does not seem to be sated, and it appears that they may have turned their attention to PS4 consoles!

Take a look at this viral photo of a very ghetto-looking mining rig made up of sixteen PS4 Slim consoles.

 

How Much Money Can This PS4 Mining Rig Make?

We have no idea if it’s actually running, or just a work in progress though, because we never heard of anyone actually mining cryptocurrency on the PS4.

The PS4 and PS4 Slim use a custom AMD Radeon 7970M GPU, with 18 compute units and 8 GB of GDDR5 memory with 176 GB/s of memory bandwidth.

It is roughly 20% slower than the AMD Radeon 7970M mobile GPU, but cryptomining is less about processing power, and memory bandwidth.

So let’s just call PS4 Slim equivalent to the  Radeon 7970M for mining purposes, which delivers a hash rate of about 8.35 H/s.

Each PS4 console would be fast enough to generate 0.00013896 BTC worth US$7.62 per month.

And that 16-console PS4 mining rig above would generate about 0.00222336 BTC worth US$121.92 per month.

Even if they are stealing electricity, that’s really not a lot of profit, to be honest…

 

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Cybercafe Converts RTX 3080 PCs Into Cryptomining Rigs!

Take a look at why this cybercafe converted their GeForce RTX 3080 gaming PCs into cryptomining rigs!

 

Cybercafe Converts RTX 3080 PCs Into Cryptomining Rigs!

The COVID-19 pandemic has decimated the cybercafe industry, with many closing down and selling their gaming PCs and accessories.

However, this Vietnamese cybercafe did something different – they began converting their GeForce RTX 3080 gaming PCs into cryptomining rigs!

The Star Gaming cybercafe in Ho Chi Minh City showed how they were transforming their business due to the COVID-19 pandemic, converting their gaming PCs into cryptomining rigs.

Instead of hosting gamers, the cybercafe is now hosting a slew of new cryptomining rigs.

It is possible that they are also building completely new cryptomining rigs. In this picture, you can see that each rig holds at least eight GeForce RTX 3080 graphics cards.

 

How Much Money Can Each RTX 3080 Cryptomining Rig Make?

Just how much money can this cybercafe make from their RTX 3080 cryptomining rig?

Officially, GeForce RTX 3080 cards start at $699, but due to the shortage of cards, they are now selling for about $1,199 each.

So eight of them would cost approximately $9,592. Let’s call it a flat $10,000 for the whole 8-card rig, plus power supply.

The average commercial electricity rate in Vietnam is VND 2,666 per kWh (about US$0.12 per kWh). So electricity should cost about $225 per month. Let’s make that $300 per month (+33%) to account for cooling costs.

As of 21 February 2021, each GeForce RTX 3080 has a hash rate of 86.5 MH/s using the Ethash (Phoenix) algorithm, which should generate approximately 0.18100503 ETH worth US$361 every month.

So each 8-card rig should generate a net profit of US$61 per month or US$732 per year. That doesn’t sound like much, but it’s a pretty decent ROI of 7.3% per annum.

It would certainly be much better than operating a cybercafe with little to no customers due to lockdown / biosecurity measures.

In fact, their costs would be very much lower if they are converting their existing RTX 3080 gaming PCs into mining rigs, with significantly higher ROI.

This is, arguably, a better solution for cybercafes to ride out the COVID-19 pandemic, than to give up and sell out.

 

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ZOTAC RTX 3070 Cryptomining : Why The Outrage?

Don’t be outraged about the ZOTAC GeForce RTX 3070 cryptomining rig.

The truth is they are just being honest about who their biggest clients really are.

 

Why Gamers Are Outraged By ZOTAC RTX 3070 Mining Rig?

It’s no secret that graphics card brands LOVE cryptominers who are buying up their cards by the pallets.

ZOTAC probably wanted to send them some love when they tweeted this picture of a cryptomining rig built using eight ZOTAC Gaming GeForce RTX 3070 White graphics cards.

What they probably should not have done was to use the #PcGaming #Gaming #Gamers #PcMasterRace hashtags, because really… what does cryptomining have to do with the PC?

Gamers have very little love for cryptominers, who are at least partly to blame for the shortage and high prices of graphics cards.

The ZOTAC tweet naturally triggered their outrage, because it was actual proof that ZOTAC would love to sell even more of their limited supply of graphics cards to cryptominers.

But the truth is – ZOTAC was finally being honest about who their biggest clients really were. Not gamers, for sure!

After all, which gamer will ever buy EIGHT ZOTAC GeForce RTX 3070 graphics cards?

 

Why ZOTAC Loves Cryptominers Buying Their RTX 3070 Cards

Let’s be frank – cryptominers are far more willing to pay top dollar for graphics cards, than gamers.

Thanks to high cryptocurrency prices, they can still make a ton of money even if they pay insane prices for these graphics cards.

And they don’t just buy one card for their gaming pleasure. They buy these cards by the dozens and hundreds! And why not?

This mining rig, which uses 78 GeForce RTX 3080 graphics cards, generates a net profit in excess of US$128,000 per year!

Recommended : 78-Card GeForce RTX 3080 Mining Rig Powered Up!

The profitability of cryptomining has gone up so much that Chinese cryptominers have resorted to buying up hundreds of GeForce RTX 3060 gaming laptops instead!

This Chinese mining farm is being built using 900 GeForce RTX 3060 gaming laptops, and have the potential to generate over US$2.3 million in profit every year!

Recommended : This RTX Laptop Mining Farm Could Make $3.5 Million / Year!

So, don’t be so mad at ZOTAC. At least they had the guts to admit their preference for cryptominers.

The other brands are the same. They just don’t have the guts to admit it, for fear of losing support from their fans.

The secret to having your cake, and eating it too? Keep quiet about cryptomining, and promote fanboyism to keep the hoi polloi loyal to the brand.

It’s all about the money, guys…

 

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This RTX Laptop Mining Farm Could Make $3.5 Million / Year!

Take a look at this crypto-mining farm that could make $3.5 million a year using just 900 NVIDIA GeForce RTX 3060 gaming laptops!

 

Hundreds Of RTX Laptops Used In Crypto Mining Farms!

Not only gamers are affected by the limited supply of graphics cards in the market. So are cryptominers!

Chinese cryptominers now have to resort to buying up whatever GeForce RTX gaming laptops they can find, literally hundreds of them!

Instead of ASIC miners or GPU mining rigs, they are now powering their cryptomining operations with RTX gaming laptops!

We earlier highlighted the new trend of using RTX gaming laptops to mine cryptocurrency. It looks as this is more extensive that we first thought.

A Weibo blogger called 神鱼BTCer just shared even more pictures of RTX laptop-based mining operations, big and small.

Many appear to be pretty ghetto, placing the laptops in a kind of “tent mode” for better cooling, wherever there’s space – on tables, chairs or the floor.

But he also showed a seriously big crypto-mining farm being built using these GeForce RTX 30-series gaming laptops.

He even shared a short clip (part of the video we posted above), showing the cryptocurrency mining farm partially operational, with more being set-up.

There are 10 laptops per shelf, with each shelving unit capable of accommodating 60 laptops.

While not particularly large, this cryptocurrency mining farm has at least 15 visible shelving units, so that’s a total of 900 RTX gaming laptops when it’s fully operational.

Currently, it’s only partially complete, with about 200 or so laptops running, with many boxes of laptops left to open and setup.

 

How Much Money Can This RTX Laptop Mining Farm Make?

We had earlier shared about how a Bilibili content creator used an RTX 3060 laptop to mine 0.00053009 ETH while she sipped her coffee at Starbucks for 2 hours.

Based on her experience, we can guesstimate that the average GeForce RTX 3060 laptop will be able to produce :

  • 0.000265045 ETH per hour
  • 0.00636108 ETH per day
  • 0.1908324 ETH per month (30 days)
  • 2.3217942 ETH per year

Chinese electricity costs about RMB 0.545 (US$0.084) per kWh. Assuming each laptop uses about 250 watts of power (including whatever external fans they may be using), that works out to about RMB 1,200 or US$186 per year.

As of 11 February 2021, Ethereum is priced at US$1740. So here’s roughly how much this cryptocurrency mining farm would make, at that price :

  • 100 laptops : $385,392 per year
  • 200 laptops : $770,784 per year
  • 300 laptops : $1,156,177 per year
  • 400 laptops : $1,541,569 per year
  • 500 laptops : $1,926,961 per year
  • 600 laptops : $2,312,353 per year
  • 700 laptops : $2,697,745 per year
  • 800 laptops : $3,083,138 per year
  • 900 laptops : $3,468,530 per year

So there you have it – this small cryptocurrency mining operation can potentially make almost US$ 3.5 million in a single year.

But what’s the ROI, you say?

The Chinese OEM, Hasee, offers a GeForce RTX 3060 gaming laptop with a starting price of just RMB 6,499 (approximately RM4,089 / US$1,005 / £732 / A$1,309 / S$1,340).

And the video shows that this mining operation is using the same, or similar, Hasee RTX gaming laptops.

Let’s say they paid a 20% scalper’s premium, and purchased all 900 Hasee RTX 3060 laptops for a cool US$1,085,400.

Let’s further round that up to US$1.1 million for miscellaneous costs – shelving units, lights, fans, etc. including US$500 per month for rental.

Based on those assumptions, their net profit for the 900-laptop mining farm would be US$2,368,530 per year, at current prices.

That’s an incredibly high ROI of 17.9% per month, which is 67% higher ROI than the 78-card GeForce RTX 3080 mining rig!

After recovering the cost of the entire mining farm ($1.1 million) in just over 3 months, everything else they make after that is pure profit (after deducting rental and electricity costs), unless they are stealing the electricity!

With such great ROI, you can count on cryptocurrency miners to buy up ALL the GeForce RTX 30 series laptops they can get their hands on!

 

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Illegal Bitcoin Cryptomining Operation Seized!

The Pahang police and TNB SEAL team just busted and seized an illegal cryptomining operation, and arrested a suspect there!

 

Illegal Bitcoin Cryptomining Operation Seized!

On 9 February 2021, the Pahang police D7 JSJ team and the TNB SEAL team (seriously, that’s what they call themselves) busted and seized an illegal Bitcoin cryptomining operation.

The Bitcoin cryptomining operation occupied two shoplots in a three storey building at Batu 3, Jalan Gambang in Kuantan, Pahang.

The police also arrested a suspect who was found at the cryptomining operation.

According to the Pahang Deputy Chief of Police Dato’ Mohd Yusri bin Hj. Hassan Basri, the suspect had illegally tapped into the electricity at both premises, and will be investigated under :

  • Section 379 of the Penal Code for stealing electricity
  • Section 427 of the Penal Code for committing treason

We should point out that cryptomining is not illegal in Malaysia, whether it’s for Bitcoin or any other cryptocurrency.

What’s illegal is the theft of electricity to run such cryptomining operations for maximum profit.

That’s why the TNB SEAL team was involved, and not just the police.

 

More Pictures From The Illegal Cryptomining Operation Raid

 

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12-Card GeForce RTX 3090 Gigahash Mining Rig!

Take a look at this crypto-mining rig that uses just a dozen GeForce RTX 3090 graphics cards to generate over a gigahash per second!

Find out how much he stands to make from this mining rig!

 

12-Card GeForce RTX 3090 Gigahash Mining Rig!

It seems easy for crypto-miners to get hold of the GeForce RTX 3090 graphics card in bulk.

A crypto-miner is building a compact mining rig that uses just a dozen GeForce RTX 3090 graphics cards to generate over a gigahash per second!

Guntis Vitolins, who recently lost 500 graphics cards in a fire, is using a dozen INNO3D GeForce RTX 3090 graphics cards, powered by four EVGA SuperNOVA G3 1000 watt power supplies.

 

How Much Money Can This RTX 3090 Crypto Mining Rig Make?

Just how much money can Guntis make from this crypto-mining rig?

Officially, RTX 3090 cards start at US$1,499, but due to the shortage of cards, they are now selling for about US$2,450 each. The EVGA SuperNOVA G3 1000 PSU each cost US$309.

So the twelve cards would cost approximately US$29,400, while the four EVGA PSUs would cost US$1,236. Let’s call it a flat US$31,000 for the whole rig.

The average commercial electricity rate in Ireland (where he’s based) is about €0.2413 per kWh. So electricity should cost about €800 or US$965 per month. Let’s make that US$1450 per month (+50%) to account for cooling costs.

Each GeForce RTX 3090 has a hash rate of 104.48 MH/s using the Ethash (Phoenix) algorithm, which should generate approximately 0.23401064 ETH worth US$312.53 every month.

So the total rig of 12 cards should generate 2.80812768 ETH worth US$3,750 per month. Deducting electricity costs, that’s a net profit of $2,300 per month or $27,600 per year!

That’s a high ROI of 7.4% per month, which means he recovers the cost of the entire rig in about 13.5 months.

This is about 31% lower ROI than the 78-card mining rig that uses the much cheaper GeForce RTX 3080, which pays for itself in just 9.5 months!

No wonder crypto miners are buying up graphics cards by the pallets… at the expense of PC gamers all around the world!

 

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500 Radeon RX 5700 Cards Destroyed In Fire!

500 brand new AMD Radeon RX 5700 graphics cards meant for crypto-currency mining just burned up in a fire!

 

500 Radeon RX 5700 Cards Destroyed In Fire!

On 27 January 2021, Guntis Vitolins shared pictures of 500 Radeon RX 5700 graphics cards that were just destroyed in a fire.

This is how looks 500x RX 5700 burned $eth

 

RX 5700 Fire Started In Welding Accident!

But here is where it takes a strange twist. It was not an actual “mining accident”, as we might expect.

A welding accident apparently started the fire at this warehouse, where he was building his mining rigs.

Some 500 of his Radeon RX 5700 graphics cards – all brand new, in boxes – were destroyed in the fire, and firefighting operation.

Fortunately for him, his mining rigs survived, and just needed to dry out from the water.

Another crypto-miner estimated that the 500 destroyed Radeon RX 5700 cards would cost about US$300,000.

But you would be hard-pressed to find 500 of these cards on Amazon!

 

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GeForce RTX 3080 Mining Rig Inside A BMW i8 Hybrid!

Take a look at this mining rig with SIX GeForce RTX 3080 graphics cards, in the trunk of a BMW i8 hybrid sports car!

 

GeForce RTX 3080 Mining Rig Inside A BMW i8 Hybrid!

Simon Byrne is at it again – trolling gamers with his GeForce RTX 3080 mining rigs!

This time, he created a mining rig with six GeForce RTX 3080 graphics cards, right in the trunk of a BMW i8 hybrid sports car.

The only practical use for the trunk of an i8 is to home a 6 x RTX 3080 mining rig.

*no gamers were harmed in the making of this photo.

 

BMW i8 RTX 3080 Mining Rig : Trolling Gamers

As impressive as it looks, this really isn’t a practical mining operation. He probably created it just to troll gamers who are finding it hard to get decently-priced graphics cards.

World’s Most Expensive Mining Case

The BMW i8 has a starting MSRP of US$147,500 in Nevada. That would make it the world’s most expensive mining case.

Power Consumption

The six GeForce RTX 3080 graphics cards alone would consume 2 kilowatts of power at full power, with the entire mining rig using some 2.5 kW of power.

We can only see a single EVGA SuperNOVA 1600 T2 PSU, so he’s either underclocking the cards, or there is another PSU out-of-sight.

The BMW i8 has a 11.6 kWh lithium-ion battery, with a usable capacity of 8.7 kWh. That’s only enough to run the mining rig for 4-5 hours.

BMW i8 battery pack

Thermal Output

Of course, you can plug in the i8 or keep its engine running, but the mining rig still generates a tremendous amount of heat.

Even in a cold environment (it’s about 5°C in Nevada in January), the BMW i8’s rear hatch must be kept open to avoid the cards from overheating.

Invitation To Smash & Grab!

And that’s just inviting theft or a hold-up. Especially when these GeForce RTX 3080 cards command premium prices all over the world!

This is definitely an impressive showcase, but Simon is no doubt making the bulk of his cryptocurrency using serious rigs like this 78-card mining rig we showed earlier.

Recommended : 78-Card RTX 3080 Mining Rig Almost Operational!

 

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