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Author: Admin | 2025-04-28
Fraudulent use of electricity and vandalizing a school.Babson College Professor of Information Technology Management Steve Gordon is a cryptocurrency expert. He is unaffiliated with this criminal case, but explained the process of crypto mining to 5 Investigates."Crypto mining is the way in which a network that supports a cryptocurrency is kept secure," he said. "One of the reasons that they call it mining is that when a miner actually creates a new block, adds some transactions to the blockchain, they get rewarded with coins that are created out of thin air."High-powered computers must continually work to solve complex problems, aiming to validate connections and keep crypto transactions secure. When they are successful, miners are rewarded for their efforts with new coins, potentially netting thousands of dollars. Bitcoin miners, for example, currently get rewarded with 6.25 Bitcoins.But the high-powered computers must run constantly, in turn consuming a large amount of energy. Cohasset Police Department Cryptomining computers on display as evidence "It's estimated that the total amount of energy used in the Bitcoin blockchain would be enough to power a small country like Switzerland or something like that," Gordon said.In a place like Massachusetts, the cost of electricity eats into any potential profits from mining. Cohasset Police Department Another view inside the crawlspace. 5 Investigates' Karen Anderson asked Gordon if it makes sense to try crypto mining anywhere in New England."Not really," Gordon answered. "Not unless you make an arrangement at some point in time with an energy provider to provide it very cheaply."Nahas resigned from his position with the town of Cohasset in March of 2022.When reached by phone, Nahas declined to comment. Nahas failed to appear in Quincy District Court on Thursday. A warrant has now been issued for his arrest.
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