Sunday, September 14, 2025

Latest

Malaysian Police Destroy Over 1,000 Bitcoin Mining Rigs With Steamroller Over Electricity Theft

Bitcoin just can’t seem to catch a break. Authorities in Malaysia have confiscated over 1,000 bitcoin mining rigs and destroyed them with a steamroller, after a police accused the operators of stealing electricity.

According to Malaysian newspaper The Star, a total of 1,069 mining rigs valued at $1.26 million were confiscated and intentionally destroyed by a steamroller. A joint investigation with local police and electricity company Sarawak Energy Berhad lead to charges against six individuals, after it was determined they were stealing electricity to power their operations.

The miners had stolen approximately $2 million worth of electricity from the grid, which they used to mint bitcoin and ethereum. The accused individuals have each been fined £1,380 and face up to eight months of jail time. “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,” said Malaysian police chief Hakemal Hawari.

Illegal bitcoin mining operations are being discovered across numerous regions around the world, particularly in developing economies where electricity is derived from coal and other dirty fossil fuels. A recent crackdown by authorities and regulators in China has forced miners to relocate to places where electricity production is more environmentally friendly, such as the US and Canada.

Information for this briefing was found via The Star. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

New Found Gold: The Strategic Maritime Resources Purchase

Amex Exploration: Revised Perron PEA Has INSANE Economics

Aris Mining: The Multi Billion Dollar Soto Norte PFS

Recommended

Northern Superior Expands Philibert With 350 Metre Step Out Testing 1.10 g/t Gold Over 25.5 Metres

Goliath Resources Hits 18.58 g/t Gold Over 5.00 Metres At Surebet

Related News

Bitcoin and Ether Tumble Amid Recession Fears

The effects of last week’s weak US labor data, sluggish manufacturing activity, and the volatility...

Tuesday, August 6, 2024, 12:22:00 PM

Coinsquare Must Release Thousands of Clients’ Data to CRA, Federal Court Rules

One of Canada’s largest cryptocurrency trading platforms will now have to hand over the identities...

Thursday, March 25, 2021, 10:35:00 AM

Bitcoin: Huge Sell-Offs, Including 1000 BTC from 2010, Trigger 10% Fall From New All-Time High

Bitcoin (BTC) fell over 10% from a new all-time high as a wave of sell...

Wednesday, March 6, 2024, 11:09:00 AM

Bitfarms: Recent Purchase Could Potentially Generate Significant Operating Cash Flow

On March 2, Bitfarms Ltd. (TSXV: BITF) announced that it has reached an agreement to...

Sunday, March 7, 2021, 05:31:00 PM

Who’s On Peter Thiel’s Bitcoin Blacklist?

Palantir Technologies (NYSE: PLTR) chair Peter Thiel called out the so-called “financial gerontocracy” that is...

Friday, April 8, 2022, 11:23:06 AM