Stay up to date with notifications from The Independent

Notifications can be managed in browser preferences.

Eighteen bitcoin mining machines stolen from a property in Derbyshire

 

Machines believed to be worth at least £1,200

Thursday 29 March 2018 17:56 EDT
Representations of the Ripple, Bitcoin, Etherum and Litecoin virtual currencies are seen on a PC motherboard in this illustration picture, February 13, 2018
Representations of the Ripple, Bitcoin, Etherum and Litecoin virtual currencies are seen on a PC motherboard in this illustration picture, February 13, 2018 (Reuters)

Eighteen bitcoin mining machines have been stolen from a property in Derbyshire.

The Antminer S9's were taken from West Bars House in Chesterfield.

Among the most powerful on the market and an online search by The Independent found the cheapest price for this model was more than £1,200.

Derbyshire Constabulary appealed to anyone who was in the West Bars area, who may have seen people loading items into a vehicle.

Bitcoin is an entirely virtual currency that works without the need for a central bank. It can be sent over the internet.

Coins are transferred directly from person to person and are kept in a digital wallet that can be accessed on a computer or mobile device. They can be transferred using currency exchanges.

Creating new coins is done through a process called "mining" where users are rewarded with new coins for verifying transactions that take place.

Bitcoin has its own value and is not tied to any physical currency.

The value of bitcoin skyrocketed in late 2017 and its rapid rise generated huge amounts of interest in it and the 1,567 other varieties of cryptocurrency available online.

However, it is notoriously volatile and a multitude of financial experts have advised people not to get involved, calling it a bubble that could burst at any moment.

Recent events have demonstrated just how quickly the situation can change for investors - with cryptocoin exchanges reacting adversely to exterior threats like regulation, cyber-crime and advertising bans.

After hitting a record high of more than $19,850 (£14,214) in mid-December, bitcoin’s value tumbled to $12,000 (£8,630) within days.

Thank you for registering

Please refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in