In a recent crackdown, authorities in Miri, Borneo, shut down an illegal cryptocurrency mining operation, acting on a tip-off from the public. Sarawak Energy discovered the operation, which involved 34 mining servers using stolen electricity through cable tapping.
All the equipment, including servers and cables, was seized, and local police are investigating further, as per the local news channel.
The operation was estimated to consume about $1300 worth of stolen electricity every month. This incident follows another earlier this year, where 137 mining servers were seized in Senadin, a town in the same state as Miri.
In 2023, the Bitcoin mining network reached all-time highs in hash rate and network difficulty, making it more resilient but creating challenges for smaller operators.
Illegal mining operators steal electricity to eliminate running costs and increase profits, especially when they don’t have the advantages of larger, economically-scaled operations.
Also Read: Kyrgyzstan’s $20M Hydropower Crypto Mining Facility
This surge in illegal activities poses a concern for the authorities and the utility company, despite offering some of the lowest energy prices in Malaysia. It also highlights the need for stronger measures to deter such activities in the future.
