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Bitcoin:
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BTC Dominance:
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Market Cap:
$3.25 T

Malaysia Smashes 985 Bitcoin Miners Amid Crackdown

Malaysia Bitcoin Mining

Local media stated that 985 bitcoin mining machines valued at around 1.98 million Malaysian ringgits ($452,500) had been destroyed by authorities in the nation as they kept power theft connected to bitcoin mining operations under control.

Following court orders, the Perak Tengah district police reported in the Malaysia Gazette that on Monday they smashed the rigs using a steamroller. From 2022 until this past April, the equipment was seized during enforcement activities.

The most recent warnings and enforcement actions by the government coincided with a larger crackdown on power theft concerns connected to bitcoin miners. Sepang district police reported last week that seven people were arrested for allegedly running bitcoin mining operations with stolen electricity.

Deputy energy transition and water transformation minister Akmal Nasrullah Mohd Nasir claimed last month that between 2018 and 2023, crypto miners in Malaysia pilfered at least RM3.4 billion ($777 million) worth of electricity.

From China, which outlawed all crypto mining activities in 2021, crypto mining operations have progressively shifted to the U.S. and other countries such as Malaysia, Indonesia, Laos, and Thailand. Southeast Asian countries draw miners because of their competitive energy rates, trained workforce, and current infrastructure.

 

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