An IT firm in Armenia was caught using electricity illegally for mining cryptocurrencies. The Armenian National Security Service (NSS) revealed that the firm was not registered as an electricity consumer in Electric Networks of Armenia CJSC.
The NSS alleged that the IT firm set up a farm on the territory of one of the hydropower plants in Armenia without registering with proper authorities. An Armenian news outlet reported that the IT firm allegedly consumed over 1.5 million kWh electricity for 18 months illegally. The illegally used electricity was valued at 73 million AMD ($153,387).Â
The firm was caught as a result of an operative investigation against economic crimes in the country. The authorities did not reveal the name of the company or the people behind it.Â
 Armenia is not the only country where authorities are getting strict against the crypto mining firms. Earlier this month Inner Mongolia authorities announced to clean up crypto mining activities from the region.Â
