Malaysian police recently crushed 985 bitcoin mining machines using a steamroller. Deputy Energy Transition and Water Transformation Minister of Malaysia, Akmal Nasrullah Mohd Nasir, revealed that since 2018, bitcoin miners in Malaysia have stolen nearly RM3.4 billion (approximately $777 million) worth of electricity.

The crackdown reflects ongoing efforts by Malaysian authorities to tackle the issue of power theft, which not only imposes significant financial losses but also jeopardizes the stability of the local power grid.

The move from other regions, notably China where crypto mining was banned in 2021, has shifted operations to Southeast Asia, where countries like Malaysia offer competitive electricity prices and adequate infrastructure to support such activities.

Despite the appeal of lower costs, the illegal approach to accessing power has led to stringent enforcement actions by local authorities.

Bitcoin Versus is not a financial advisor. This media platform reports on financial subjects purely for educational and entertainment purposes only. Do your own due diligence and contact a professional financial advisor for any advice on how to invest your money.