Chinese School Principals Were Mining Ethereum At Work
The school’s principal, Lei Hua, and vice principal, Wang Zhipeng from Hunan province installed nine Ethereum mining devices worth of $7K right in the school. Due to this, the school suffered losses ($2163) for several months, reports CoinDesk referring to a local media outlet HK01.
Initially, Lei Hua installed devices at home, but then decided to move a mining farm to the school due to high electricity costs.
Electricity consumption in school increased twice due to secret cryptocurrency mining which took place fron July to November, IT network operation speed was also slowed down.
The principal accused of theft was punished and removed from his post at the school, as well as within the Communist Party.