Bitcoin

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April

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<p><strong>Key points:</strong></p>   
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 <li><em>Local police crushed the rigs with a steamroller — as shown in a video — as a warning that the authorities are continuing to crack down on electricity theft linked to Bitcoin mining.</em></li>   
 <li><em>Local media reported that the authorities destroyed $452,500 of mining machines on Monday.</em></li> 
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<h5 class="wp-block-heading"><strong>Malaysia power theft crackdown sees 985 bitcoin mining machines destroyed, valued at $452,500, as authorities combat electricity theft linked to crypto mining.</strong></h5>   
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 <a href="https://coincu.com/wp-content/uploads/2024/08/telegram-cloud-photo-size-5-6208667593838018125-y.jpg"><img src="https://coincu.com/wp-content/uploads/2024/08/telegram-cloud-photo-size-5-6208667593838018125-y-1024x576.jpg" alt="Malaysia Power Theft Battle Sees 985 Bitcoin Mining Machines Obliterated" class="wp-image-279088"></a>
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<h2 class="wp-block-heading" id="strong-malaysia-power-theft-crackdown-on-bitcoin-mining-strong"><strong>Malaysia Power Theft Crackdown on Bitcoin Mining</strong></h2>   
<p><a href="https://x.com/MalaysiaGazette/status/1825407581726409016" target="_blank" rel="noreferrer noopener">Malaysian authorities have stepped up their crackdown</a> on electricity theft linked to Bitcoin mining. Following a court order, they recently destroyed 985 bitcoin mining machines worth about 1.98 million Malaysian ringgit ($452,500) by crushing them with a roller.</p>   
<p>The machines were seized in various enforcement operations between 2022 and April 2023. The move highlights Malaysia’s stance on tackling illegal bitcoin mining operations linked to electricity theft.</p>   
<p class="has-background" style="background-color:#222222"><strong>Read More:<a href="https://coincu.com/252098-renzo-review-binance-labs-restaking-protocol/" target="_blank" rel="noreferrer noopener"> </a><a href="https://coincu.com/263449-crypto-supporter-donald-trump-help-bitcoin-miner/" data-type="link" data-id="https://coincu.com/270668-how-the-secs-revised-binance-us-lawsuit-and-solanas-exclusion-affect-the-best-ongoing-presales-in-2024/" target="_blank" rel="noreferrer noopener">Bitcoin Mining Difficulty Hits New Historic High</a></strong></p>   
<h2 class="wp-block-heading" id="strong-broader-impact-of-malaysia-power-theft-issues-strong"><strong>Broader Impact of Malaysia Power Theft Issues</strong></h2>   
<p>The recent enforcement actions are part of a more extensive campaign against Malaysia power theft, mainly related to Bitcoin mining operations. <a href="https://coincu.com/278747-malaysia-bitcoin-mining-seven-arrested-for-theft/" target="_blank" rel="noreferrer noopener">Last week, the Sepang district administration arrested seven individuals for electricity theft in cryptocurrency mining.</a></p>   
<p>Deputy Minister of Energy and Water Transformation Akmal Nasrullah Mohd Nasir revealed that between 2018 and 2023, cryptocurrency miners in Malaysia stole RM3.4 billion ($777 million) worth of electricity.</p>   
<p>With China’s ban on cryptocurrency mining in 2021, many operations have shifted to Southeast Asia, where countries like Malaysia offer competitive electricity prices and favourable infrastructure, making it a hotbed for illegal cryptocurrency mining operations.</p>   
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    <td><em><strong>DISCLAIMER</strong>:&nbsp;The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.</em></td>
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Malaysia Power Theft Battle Sees 985 Bitcoin Mining Machines Obliterated

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