NUS’ UTown Residence has ordered for the equipment to be removed for the safety of residents, said a spokesperson on Tuesday in response to media queries.The spokesperson added that University Town residents were informed that crypto mining rigs were strictly prohibited.
"These consume very high levels of energy and emit unusually large amounts of heat, posing a fire hazard and the risk of power outages." In an email to residents on Monday, the management office said the cryptocurrency mining rigs were found during a “routine inspection” last week. The devices were emitting “unusually high heat dissipation”, the email read, adding that the “higher than normal” level of heat emitted by these devices poses a greater risk of fire hazard.
Cryptocurrency mining refers to a currency creation process where powerful computers race to process transactions, solving complex mathematical problems. Miners are typically rewarded with new cryptocurrency.
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