Crypto YouTuber and Girlfriend Accused of Power Theft for Bitcoin Mining
A recent lawsuit filed by a Minnesota power company alleges that a crypto YouTuber and his former girlfriend attempted to bribe employees to upgrade a Bitcoin mine that was stealing electricity. The lawsuit, submitted on November 21, targets Ryan Jaenicke and Tina Fehlhaber, accusing them of stealing power from North Star Electric Cooperative to run a Bitcoin mine in Roosevelt, Minnesota.
Unlawful Activity Discovered
The power theft came to light in June of last year when North Star noticed a significant increase in electricity usage on an old line previously connected to a property in Roosevelt. The property had been disconnected from the electricity supply in 2018. Further investigation revealed tampering with an old meter box, which had been manipulated to redistribute electricity to the Bitcoin mining operation.
Bribery Attempts
Ryan Jaenicke, known as the YouTuber ‘Degenerate Income,’ allegedly attempted to bribe a North Star employee according to incriminating evidence from the lawsuit. Transcribed Facebook messages show Jaenicke offering $2,000 in cash to upgrade a fuse box secretly, but the employee declined. Jaenicke then offered an additional $5,000, only to be rebuffed again.
Legal Action and Call for Responsibility
North Star Electric Cooperative is seeking damages and the retrieval of any profits acquired through the stolen power. They have also called upon Jaenicke to take responsibility for his actions and rectify the situation. The accused couple may face serious consequences if found guilty of these allegations.
Hot Take: BTC Trading at $41,500
As of now, Bitcoin (BTC) is trading at $41,500, with a 5% increase in the past 24 hours and over 12% gains in the past week. Despite this news of alleged power theft for Bitcoin mining, the cryptocurrency continues to perform well in the market.
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