Today, the majority of the world is moving towards the adoption of cryptocurrencies and blockchain technology. Many countries, once against the concept of cryptocurrencies are now welcoming them with open arms. Over time, the cryptocurrency industry has managed to gain a lot of reputation and a tremendous user base.
Things have now started lighting up for the cryptocurrency industry in the entire world. While most of the countries are having considering adopting cryptocurrencies, some countries are viewing them from a different perspective.
Some countries are against the mining activities of cryptocurrencies, especially, Bitcoin (BTC). The main reason is the electricity consumption that is demonstrated by the Bitcoin mining farms. The mining of Bitcoin has become an expensive process, which requires a lot of electricity consumption for the very purpose.
However, many countries are taking down mining activities in their jurisdictions because of the very reason. Some consider them unethical while some consider the illegal/unlicensed activities that are taking place in the areas.
Malaysia seems to have gone with the last mentioned approach, taking down Bitcoin mining farms performing illegal mining activities for Bitcoin.
Just recently, Malaysian authorities have taken strict action against one of the mining farms in the country. As a result, it confiscated over $1.2 million worth of mining rigs that were used for the mining purpose of Bitcoin.
To send a clear message to the illegal Bitcoin/altcoin miners in the country, the Malaysian authorities took down the mining rigs it confiscated. The reports suggest that the Malaysian authorities literally crushed the mining rigs with the help of a roller to send the message across.
According to reports, the police authorities in Miri (a city in Malaysia), destroyed all the mining rigs it had confiscated from illegal mining operations. The reports confirm that the Miri City policy as well as the Sarawak Energy company made sure the message was delivered to the illegal mining operators in the country.
The authority and the company arranged for a steamroller that would run over more than 1,050 rigs for mining Bitcoin. The authorities confirmed that these rigs were confiscated from different mining farms as well as the Malaysian residents. Even the residents were using the mining rigs to illegally mine Bitcoin.
The police authorities had been monitoring the situation for a while and had discovered that the people involved in mining Bitcoin were using stolen electricity for mining purposes.
According to the authorities, these mining activities were boosted between February of 2021 and April of 2021, when Bitcoin hit an all-time high. As per the authorities, the rigs they had taken into their custody were somewhere around $1.26 million.
The Malaysian police authorities reportedly crushed all the Bitcoin mining rigs at their headquarters.