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Malaysian cops seized and destroyed 1,069 bitcoin mining rigs by crushing them with a steamroller – after miners reportedly siphoned off nearly $ 2 million worth of electricity to power the energy-hungry machines.
The machines, estimated at around $ 1.25 million, were seized in a joint operation by Miri Town Police and the utility company Sarawak Energy between February and April, according to a report from the Malaysian National News Agency.
A video of the steamroller posted last week by local newspaper Dayak Daily has taken to social media.
Six people were arrested for theft of electricity in connection with the operation and were fined nearly $ 2,000 as well as “jail time of up to eight months”, according to an official. statement from Miri’s police chief, ACP Hakemal Hawari, quoted by local media.
Theft of electricity to power bitcoin mining operations is a persistent problem across the world, especially since the price of bitcoin skyrocketed earlier this year to over $ 60,000 per coin.
What is known as Bitcoin mining involves using computers to solve complex mathematical problems with the goal of being rewarded with freshly minted units of the popular cryptocurrency, which was worth around $ 31,300 per coin. 6 am Monday.
In May, British cops stumbled upon a bank of around 100 bitcoin mining rigs at a site police had been told to be a marijuana farm. The site had stolen thousands of dollars of electricity to power its operations, police said at the time.
In Malaysia, the theft of electricity to power bitcoin mining operations has become an increasingly urgent problem for authorities.
“The theft of electricity for bitcoin mining activities has caused frequent power outages and in 2021 three houses were razed due to illegal power connections,” Miri police chief told points of. local sales.
Critics of cryptocurrencies, and Bitcoin in particular, have taken on the mining process, saying demand for energy is exacerbating climate change.
Some governments, including that of China, have cracked down on mining operations in the country, citing the environmental impact as well as the potential of cryptocurrencies to disrupt the established financial system.
Yet the demand for computers capable of carrying out the process is increasing as speculators seek to profit from cryptocurrency.
The machines now sell for thousands of dollars and take months to ship, according to China-based Bitmain.
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