The Malaysian authorities used a steamroller to demolish bitcoin mining rigs, and the video has since gone viral on YouTube. With a steamroller, authorities destroyed over a thousand electrical rigs employed unlawfully by Bitcoin miners the other week. Regulators in Miri, Sarawak’s coastal capital, are said to have confiscated 1,069 rigs from miners who illegally stole energy to power their operations. The gadgets, which were confiscated around February and April, are valued at roughly Rs. 9.4 crores. According to reports, eight persons have been jailed for mining with illegal energy.
The police did not say why they chose to demolish the rigs in a comprehensive fashion instead of using the expensive options for something else, according to the authorities.
The significant energy usage in mining crypto assets was made public previously this year when the cryptocurrency industry soared. Bitcoins are managed to earn via the energy-intensive “proof-of-work” procedure, which pits computers against each other to solve complicated mathematical problems. Given the competitive nature of the search for valuable bitcoin, cryptocurrency miners prefer strong mining rigs, which are PCs specifically designed to increase mining returns.
According to a local daily, a net of 1,069 Bitcoin mining machines were confiscated in the Malaysian city. On Friday, July 16, all of the seized rigs were “disposed of” at the Miri district police station.
According to the study, the Sarawak electrical authority experienced losses of approximately Rs. 14.89 crores as a result of Bitcoin miners stealing electricity. According to the police head, those caught for electricity theft were heavily fined approximately Rs. 1.41 lakhs and sentenced for up to eight months.
In areas where Bitcoin is produced, electricity theft is a huge problem, as some miners employ unlawful tactics to ensure the power source required to make a large profit from cryptocurrency mining. Because of the added strain on the power infrastructure, officials are forced to adopt load sharing, which causes frequent disruptions.