Saturday, July 24, 2021

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    Malaysia is crushing literally thousands of illegal Bitcoin miners

    Malaysian authorities destroyed more than USD 1.2 million in Bitcoin mining platforms after they were confiscated for operating illegally.

    In a video published today by local media outlet DayakDaily, police in the city of Miri on the island of Borneo and Sarawak Energy Organized What a steamroller crushes more than 1,069 Bitcoin (BTC) miners. The platforms were reportedly confiscated from Malaysians who were attempting to illegally mine the cryptocurrency using electricity stolen between February and April.

    According to a Friday report by the Malaysian newspaper The Star, the elimination of mining machines, worth approximately USD 1.26 million, was Produced today at miri district police headquarters. Authorities said three homes in the area had been destroyed this year due to illegal Bitcoin mining, while the Sarawak Energy company lost about $2 million in operations.

    It is unclear why malaysian authorities directly destroyed the miners instead of trying to get something of value from the parts. Officials in Iran, Turkey and other countries where mining is banned or restricted have been conducting raids on illegal cryptomining operations for some time, which has often resulted in arrests, fines and confiscation of the platforms.

    However, there is little or no report that the machines have been crushed by a steamroller or destroyed in such a complete manner. The Chinese authorities would have Auctioned more than 2,000 platforms in February that had been seized for similar reasons.

    The Cambridge Centre for Alternative Finance esteem that Malaysia contributed 3.44% to bitcoin’s total monthly hashrate in April. The country Has an annual energy consumption of more than 147terawatt-hours.


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