News linked to both this project and an event.
According to Decrypt, Mexican federal prosecutors, along with the Navy and Puebla state police, raided a property in the remote mountainous area of Tlaola City, Puebla State. Approximately 300 cryptocurrency mining rigs were seized on-site, along with equipment such as transformers, medium-voltage terminals, and satellite internet antennas. The investigation revealed that the mining farm was illegally connected to the grid of the Nuevo Necaxa hydroelectric power plant, and authorities have filed charges for "theft of electricity." Forensic accountants are currently tracing the funding sources for the hardware, and money laundering suspicions have not been ruled out. Data from the Mexican Federal Electricity Commission shows that non-technical electricity losses reached as high as 6,346 gigawatt-hours between January and July 2024, valued at approximately 13.8 billion pesos (about $817 million).
Bloomberg reported that crypto trading platform Gemini Space Station Inc. announced that following its listing last year, the company has recorded losses for the fourth consecutive quarter. The net loss for the second quarter was $107.7 million, equivalent to a loss of $0.89 per share, higher than the average expectation of analysts surveyed by Bloomberg; the net loss for the same period last year was $133 million. Revenue for the same period increased by 37% year-on-year to $45.5 million, exceeding market expectations.
According to the Chosun Ilbo, 22 bitcoins previously held by Seoul’s Gangnam Police Station during its investigation into a financial hacking case have gone missing—valued at approximately 2.2 billion Korean won at current market prices. The investigation revealed that the涉案 bitcoins were stored in an offline wallet held by the complainant, and individuals who knew the wallet’s mnemonic phrase subsequently restored it externally and cashed out the funds.