Malaysian Authorities Destroy $450K Worth of Bitcoin Mining Equipment

Malaysian officials have dismantled 985 bitcoin mining rigs valued at approximately 1.98 million Malaysian ringgits ($452,500), as part of an ongoing effort to combat electricity theft associated with cryptocurrency mining.

According to local reports, the Perak Tengah district police used a steamroller to crush the equipment on Monday, following a court order. These machines were confiscated during enforcement actions conducted from 2022 through April of this year.

Ibu Pejabat Polis Daerah (IPD) Perak tengah melupuskan 985 peralatan yang digunakan dalam kegiatan perlombongan Bitcoin dianggarkan bernilai RM1.98, pada Isnin.#IPDPerak #Lupus #bitcoin

Video: Amirrul Rabbani Rashid pic.twitter.com/kEgdqTopCH

— Malaysia Gazette (@MalaysiaGazette) August 19, 2024

This latest operation is part of a broader crackdown on illicit power use linked to Bitcoin mining. Just last week, Sepang district police apprehended seven individuals suspected of stealing electricity for cryptocurrency mining activities.

Akmal Nasrullah Mohd Nasir, the Deputy Minister for Energy Transition and Water Transformation, revealed last month that between 2018 and 2023, cryptocurrency miners in Malaysia were responsible for stealing at least RM3.4 billion ($777 million) worth of electricity.

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As crypto mining operations shift away from China—where all mining activities were banned in 2021—countries such as the U.S., Malaysia, Indonesia, Laos, and Thailand have become new hubs for mining. These Southeast Asian nations offer attractive conditions for miners due to their lower electricity costs, skilled workforce, and developed infrastructure.

Alexander Stefanov