Police Destroy 1,069 Bitcoin Miners With Big Ass Steamroller In Malaysia

Homepage | Forums | Topics In Depth | Economics | Police Destroy 1,069 Bitcoin Miners With Big Ass Steamroller In Malaysia

Viewing 2 reply threads
  • Author
    Posts
    • #435443
      eridani
      Participant
      • Total Posts: 9,978

      https://www.vice.com/en/article/7kv739/police-destroy-1069-bitcoin-miners-with-big-ass-steamroller-in-malaysia

      As Bitcoin’s price surged this spring to a new all-time high, the spotlight shining on its controversial mining process only got brighter. Bitcoin, Ethereum, and many other cryptocurrencies use an energy-intensive “proof-of-work” process that makes computers on its decentralized network compete to solve complex mathematical equations to verify a batch of transactions; this makes the network less susceptible to certain attacks, and earns miners crypto rewards.

      Given the competitive element in the quest for valuable cryptocurrency, powerful mining rigs—essentially, PCs purpose-built to maximize mining rewards—are the preferred tool of serious crypto miners. They are expensive, and persistent demand and manufacturing delays can mean months-long waits for rigs to be delivered. This week, police in Malaysia crushed 1,069 of them with a steamroller.

      Authorities in the city of Miri in Sarawak, Malaysia seized 1,069 rigs from miners alleged to have stolen electricity for their operations, per a report from local publication The Star. The devices were seized in a joint operation between Miri police and Sarawak Energy Berhad between February and April, and have an estimated value of RM5.3 million ($1.25 million USD), according to the outlet.

      Six individuals were arrested for electricity theft in the operation, and “have been fined up to RM8,000 and jailed for up to eight months,” according to a statement from Miri police chief ACP Hakemal Hawari that was quoted by The Star. Local Sarawak news outlet Dayak Daily adds that the rigs were collected over the course of six separate raids. Sarawak Energy Berhad estimates that it lost RM8.4 million ($2 million USD) in energy that was stolen from its lines for the mining operation, the outlet reported. Dayak Daily also uploaded a video to YouTube showing the miners being steamrolled.

      Jesus: Hey, Dad? God: Yes, Son? Jesus: Western civilization followed me home. Can I keep it? God: Certainly not! And put it down this minute--you don't know where it's been! Tom Robbins in Another Roadside Attraction

    • #435449
      jbnw
      Participant
      • Total Posts: 5,362

      is very different from steamrolling bitcoin miners!

      🙂

    • #435467
      GZeusH
      Participant
      • Total Posts: 4,267

      Yes, the editor really decided to leave “big ass” as a legitimate adjective to describe a steamroller.

      Also, I suppose there is no need in the Malaysian school system for computers for the students if they can dispose of these rigs in such a cavalier manner.

      Corporate America consists of totalitarian entities laser-focused on short-term greed.

Viewing 2 reply threads
  • You must be logged in to reply to this topic.