Key Takeaways
- Malaysian authorities destroyed 985 bitcoin mining rigs worth $452,500.
- The machines were seized during operations spanning from 2022 to April 2023.
- Authorities estimate RM3.4 billion ($777 million) in electricity was stolen by miners between 2018 and 2023.
Malaysian authorities have destroyed 985 bitcoin mining rigs valued at 1.98 million ringgits ($452,500) as part of an ongoing crackdown on electricity theft related to bitcoin mining.
The rigs, seized during enforcement operations from 2022 to April 2023, were crushed by a steamroller in Perak Tengah district on Monday, following a court order.
This action is the latest in a broader effort to address power theft in Malaysia, where bitcoin miners have been illegally siphoning electricity.
Just last week, police in Sepang district arrested seven individuals for their involvement in electricity theft connected to bitcoin mining.
Akmal Nasrullah Mohd Nasir, Malaysia’s deputy energy transition minister, revealed that from 2018 to 2023, bitcoin miners in the country stole an estimated RM3.4 billion ($777 million) worth of electricity.
The crackdown on illegal mining continues as Malaysia remains a key hub for bitcoin mining due to its affordable electricity and existing infrastructure.
