- Authorities in the town of Miri on the island of Borneo shut down an illegal cryptocurrency mining operation and seized equipment following a tip-off from the public.
- Local news outlet The Borneo Post reported that Sarawak Energy discovered the operation, which involved 34 cryptocurrency mining servers using stolen electricity through cable tapping.
- All equipment, including servers and tapping cables, used in the operation was confiscated by the authorities.
- Local police are currently investigating the case.
- The illegal mining operation was estimated to have consumed around 6,000 Malaysian ringgits ($1300) worth of stolen electricity per month.
- Sarawak Energy stated that although they offer low energy prices, energy theft remains an issue.
- Earlier in 2023, another illegal mining operation was dismantled in the state of Senadin, where Miri is located, resulting in the seizure of over 137 mining servers.
- Bitcoin miners continue to endure the ongoing bear market, leading to some mining firms and operators selling BTC in record amounts.
- The Bitcoin mining ecosystem has seen a surge in network hash rate and difficulty, indicating resilience but also placing strain on smaller operators.
- Illegal mining operators often steal electricity to reduce running costs, making them more profitable.
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