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Newsweek (the magazine famous for outing the real Satoshi Nakamoto) has a story about how a variant of the Mirai botnet is mining bitcoin. They fail to run the numbers.
The story repeats a claim by Mcafee that 2.5 million devices were infected with Mirai at some point in 2016. If they were all mining bitcoin, how much money would the hackers be earning?
I bought security cameras and infected them with Mirai. A typical example of the CPU running on an IoT device is an ARM926EJ-S processor.
As
this website reports, such a processor running at 1.2 GHz can mine at a rate of 0.187-megahashes/second. That's a bit fast for an IoT device, most are slower, some are faster, we'll just use this as the average.
According to this website, the
current hash-rate of all minters is around 4-million terahashes/second.
Bitcoin blocks are mined every 10 minutes, with the current (April 2016) reward set at 12.5 bitcoins per block, giving roughly 1800 bitcoins/day in reward.
The current price of bitcoin is $1191.
Okay, let's plug all these numbers in:
- total Mirai hash-rate = 2.5 million bots times 0.185 megahash/sec = 0.468 terahashes/second
- Continue reading