There’s nothing fallacious with mining for cryptocurrency. It’s form of like mining for gold or coal, it’s advantageous if you happen to make investments your individual assets into doing it, however much less advantageous if you happen to stole somebody’s mining tools to do it. That can land you in a variety of hassle, which is what some bitcoin miners found when their mining operations in Malaysia not too long ago obtained steamrolled.
No, we’re not speaking about being steamrolled in a metaphorical sense, however a literal sense. This is as a result of Malaysian authorities found that these bitcoin miners had created a mining operation the place they illegally siphoned $2 million price of electrical energy from the native energy firm, Sarawak Energy.
This came about earlier this 12 months the place over the course of a number of raids, the authorities confiscated 1,069 mining rigs, which they then proceeded to destroy by driving a steamroller on high of them. Apparently these machines have been stated to be price $1.26 million. This isn’t the primary time we’ve seen situations of unlawful mining operations get busted.
Not too way back, authorities within the Ukraine raided a mining farm which was powered by over 5,000 computer systems and three,800 PS4 consoles. It was additionally drawing over $250,000 in electrical energy prices per 30 days that went unpaid.
Filed in . Read extra about Bitcoin, Cryptocurrency and Legal. Source: cnbc
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