College Campuses Are Major Cryptocurrency Mining Hubs

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According to Cisco’s research, college campuses are amongst the biggest cryptocurrency miners, second only to the energy and utilities sector.

Cisco’s security researchers have been investigating cryptocurrency mining across various industries and some of the findings were quite interesting. According to the report, university campuses account for 22% of total global cryptocurrency mining, only behind the energy and utilities sector with about 34%.

The findings are actually quite logical – students can run mining rigs in their dorm rooms or school libraries, without having to pay the electricity or internet costs.

“Mining difficulty for a lot of coins is very high right now — which means it costs more for electricity and internet than the profit you can produce from mining those coins. If you don’t have to pay for those costs, then you are in a really good spot for making money on the university’s dime.” – Cisco’s threat researcher Austin McBride explained and added:

“You leave [the mining rig] running in your dorm room for four years, you walk out of college with a big chunk of change,”

Interestingly – not all of the campus-based mining is done by students. As McBride explained, some is actually due to machines being infected by hackers and done remotely.

You can find the full research HERE.

Images by Shutterstock.com

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