In Massachusetts, a former city employee was charged with running a "cryptocurrency mining operation" at a Cohasset high school. Nadim Nahas, 39, a former assistant manager at Cohasset Enterprises, was due to appear in Quincy County Court on Thursday but failed to appear, prompting a judge to issue a warrant for his arrest.
Cohasset Police said another city employee found mining equipment in December 2021 "in a remote area under a school". Police said they found power lines and several computers that "appeared out of place".
Police discovered illegal use of the school's electrical system in the operation after consulting IT experts. Coast Guard and Homeland Security investigators helped remove the mine safely and locate its source.
Equipment used in the alleged cryptocurrency mining operation and site tour at Cohasset.
“He is really making money,” said Larry Glaser, crypto expert and managing partner at Mayflower Advisors in Boston.
Glazer said the suspect may have used travel websites to profit from taxpayer nickels.
"That's something you can't do effectively at home in New England because electricity is so expensive," he said. "There are employees who are stealing electricity from the public, the taxpayer, and the city."
After a three-month investigation, police charged Nahhas with electricity fraud and vandalism at the school. Police say Negas is stepping down in early 2022.
"We have been working closely with Cohasset Police throughout the investigation," Cohasset Public Schools said in a statement to WZ-TV, but made no further comment.
According to CBS News, cryptocurrencies are digital currencies that can be manipulated or "mined" using special computer processors that consume a lot of electricity.
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