Bitcoin mining: devices ruined in Malaysia

In recent days, a video has gone viral showing the destruction of many bitcoin mining machines in Malaysia.  The video, published by the local Sarawak newspaper Dayak Daily, shows the destruction of 1,069 bitcoin mining machines costing a total of 5.3 million Malaysian ringgit, or about $12.5 million, seized by the Miri district police between

In current days, a video clip has actually gone viral revealing the damage of numerous bitcoin mining equipments in Malaysia

The video clip, released by the neighborhood Sarawak paper Dayak Daily, reveals the damage of 1,069 bitcoin mining makers setting you back a total amount of 5.3 million Malaysian ringgit, or around $125 million, confiscated by the Miri area authorities in between February and also April this year.

Assistant neighborhood cops commissioner Hakemal Hawari disclosed that the seizure resulted from a burglary of power taken from Sarawak Energy’s lines with a complete worth of $2 million.

However, it is unclear why, rather than damaging the makers, they did not offer them at public auction in order to make up the burglarized firm, unless they compensated it with various other funds. It is feasible that the objective was certainly of a repressive nature, with the goal of protecting against other individuals from utilizing those equipments to extract BTC.

According to some price quotes, the overall present market price of those devices can have been around $1.26 million.

Hawari additionally disclosed that the burglary of power created fires in 3 residences, as well as also this declaration shows up doubtful.

Bitcoin mining in Malaysia

Furthermore, bitcoin mining in Malaysia is not unlawful, although there are stringent legislations on making use of power, consisting of prison time for damaging high-voltage line. 8 individuals were jailed in the Miri area cops procedure, and also currently encounter up to 8 months in jail.

All of this does not appear to validate the court’s choice to ruin the equipments. Also in China, where bitcoin mining is currently outlawed, took makers are generally offered at public auction instead than damaged.

However, back in March, regional authorities uncovered one more miner in the city of Melaka that had actually swiped $2.2 million well worth of electrical power from the Tenaga Nasional Berhad power firm. The choice to damage the mining equipments in an incredible method, i.e. by squashing them with a steamroller, and also shooting their damage so that the video clip can be spread out online as well as go viral, might be component of a genuine public publicity project to inhibit bitcoin mining in the nation.

On the various other hand, the video clip uploaded on YouTube, and afterwards on all the various other social media networks, was plainly made to be stunning and also to mentally influence those that sustain Bitcoin.



The information contained in this post is for general information purposes only. This is a guest post and is copyrighted to it's author. NiceAsicMiner publishes this article only for the purpose of providing more information. If there is any problem, please contact us and we will perform an immediate investigation and remove the post from our site.

Leave a Reply