Crushing $1.25m with a steamroller!
Malaysian police demolished 1,069 bitcoin mining rigs in Sarawak with a BIG ASS steamroller!
I’m not even joking right now.
Apparently some guys thought it was cool to set up a bitcoin mining factory in Sarawak and decided that stealing electricity was a smart way to do it.
It was reported that they siphoned nearly $2m worth of energy from the local power station.
The rigs are worth an estimated $1.25m but anyone into cryptocurrency or bitcoin mining will know that these specialized mining rigs cannot be reused for anything else.
I get it.
They want to send a strong message to everyone out there as a deterrence.
They want to stamp out possible would-be felons from even contemplating such moronic acts.
But it still hurts!
Question: is there really no other way to send across a stern message and not “waste” such resources.
Perhaps it be better for all if the Malaysian authorities:
1. Sit the felons down
2. Calculate their losses
3. Make them repay it over installments
4. Confiscate all the rigs
5. Keep a percentage of whatever they mine in perpetuity instead?
Seems like a win-win for all.
The power station can even get a cut.
Then again, the amount of electricity consumed and the unpredictable price of bitcoin now might make the entire endeavor too costly.
If the guys behind these rigs are any wiser, they would have probably safely and discreetly stashed away all the bitcoins mined, into a wallet that will never see the light again.
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