Crypto-mining

SINGAPORE — He had been crypto mining in his university dorm room since September last year, but one first-year National University of Singapore (NUS) ...

"I selected the components .. that have a lot of safety features," he said. He also bought a "fire extinguisher ball" and placed it near the rig. "It's profitable because (students) are not paying much for electricity and there is no rent (specifically) for the set up (of the mining rigs)," he said. "The more difficult (the equation), the more energy it takes to solve it, and the equipment needs to run for a longer time," he said. The engineering student told TODAY that the cost of purchasing the rigging equipment was too high for many to stomach, and that it was not an endeavour that many boasted about as they may not be sure if it is permitted on campus. However, he insisted that he had done his research and taken the precautions to minimise the risk of a fire, claiming that crypto mining does not constitute such an activity. "I thought it was a grey area, as they (the university) did not specifically prohibit mining, so it was definitely not what I expected," the NUS student claimed, adding that the school should add a "new rule" to state explicitly that mining should not be allowed. He added that "a lot" of heat is emitted by the rigs, enough to make his room noticeably warmer. The email to the students stated that the university took a serious stance on such violations, and that "disciplinary actions will be firmly enforced for non-compliance". SINGAPORE — He had been crypto mining in his university dormitory room since September last year, but one first-year National University of Singapore (NUS) student finally packed up his equipment when he found out on Monday (April 11) that a fellow NUS campus resident was under investigation for doing the same. The 21-year-old engineering major, who did not want to be identified, stays in a single room at one of the dormitories at NUS' University Town (UTown). He had purchased the cryptocurrency "mining rigs" for about S$12,000, and installed it in his room, leaving them operating around the clock. SINGAPORE — He had been crypto mining in his university dorm room since September last year, but one first-year National University of Singapore (NUS) student finally packed up his equipment when he found out on Monday (April 11) that a fellow NUS campus resident was under investigation for doing the same.