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CryptoWatch: College students are secretly mining bitcoin in their dorms: ‘On room check days, I have to put a blanket over it’

Here’s one unconventional way to pay off student loans: A burgeoning cryptocurrency business.

Cryptocurrency mining, the process by which people use computing power to verify transactions on the blockchain, can be lucrative. And it’s happening more frequently on college campuses, according to a study released Thursday by cybersecurity company Vectra.

Miners who solve the complicated math problems called ‘proof of work’ to verify a transaction get a monetary cut of the transaction as a reward. Joey Dilliha, an 18-year-old freshman at Western Kentucky University, says he’s making $30 a week on his Bitmain Antminer rig simply by leaving it plugged in in his dorm room and running it with the school’s free electricity.

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