Malaysia Authority Destroys $1.2M Worth of BTC Mining Rigs

Malaysia authorities have suddenly destroyed more than $1.2 million worth of Bitcoin (BTC) mining rigs. Of note, the authorities destroyed the BTC mining machines after seizing them for operating illegally.

Based on a Youtube video post, Miri police and Sarawak Energy company ordered a steamroller that destroyed more than 1,069 BTC miners. In particular, the Malaysian authorities eventually seized the mining rigs from residents who were trying to operate illegally by using stolen electricity between February and April.

Moreover, the Malaysian authorities mentioned that illegal mining activities had already destroyed about three nearby houses. In addition, the increased growth of the illegal mining operation in the country has also affected Sarawak Energy company negatively.

However, the Sarawak Energy company has even lost about $2 million as a result of unlawful Bitcoin mining operations. Prior, people are not certain about how the authorities destroyed the mining rigs. Instead of making some positivity from it to benefit the country.

Furthermore, people suggest that the authorities should fine and also arrest the miners rather than burning the rigs. Apart from Malaysia, Chinese authorities also seized over 2,000 rigs for the same reason. 

Furthermore, according to the Cambridge Center for Alternative Finance report, Malaysia supplied 3.44% to BTC’s monthly hashrate in April. Also, Malaysia has a yearly energy consumption of about 147 terawatt-hours.