Over a thousand Bitcoin mining machines have been steamrolled in Malaysia amid allegations that the owners used stolen electricity to power their rigs.
According to a report by local publication The Star, Malaysian authorities confiscated 1,069 Bitcoin mining rigs and used a steamroller to destroy the machines at a police station in the city of Miri.
According to the report, eight people have been arrested in connection with the Bitcoin mining operation which is alleged to have siphoned electricity worth around $2 million from electric utility company Sarawak Energy.
Six of the arrested have been successfully charged and fined approximately $1,900, according to Miri’s Assistant Commissioner of Police, Hakemal Hawari.
According to the report, the steamrolled mining rigs were collectively worth about $1.26 million.
“The electricity theft for mining Bitcoin activities has caused frequent power outages and in 2021, three houses were razed due to illegal electricity supply connections.”
Per the Cambridge Bitcoin Electricity Consumption Index, as of April, Malaysia was the fourth-largest Bitcoin mining country in the world by hash rate after China, the United States and Russia.
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Mark Agnor