Cryptocurrency Miners Seized on Borneo for Stealing Power

• Malaysian energy supplier uncovered illegal cryptocurrency mining operation on Borneo island
• Authorities seized 34 mining servers and tapping cables used in the operation
• Bitcoin miners have been selling record amounts of BTC over the past few months

Cryptocurrency Mining Operation Seized in Borneo

A Malaysian energy supplier uncovered an illegal cryptocurrency mining operation stealing power from the local grid on the island nation of Borneo. Authorities in the town of Miri shut down the operation, seizing all equipment used in it including 34 servers and tapping cables. Local police are now investigating this latest case.

Stolen Power

Sarawak Energy estimated that the operation was utilizing around 6,000 Malaysian ringgits a month ($1300) worth of stolen electricity. An announcement from Sarawak Energy noted that although they offer some of the lowest energy prices in Malaysia, energy theft remains an issue.

Previous Cases

In 2023, authorities seized over 137 cryptocurrency mining servers following another public tip-off located in Senadin, where Miri is located.

Bear Market for Miners

As Cointelegraph recently reported, Bitcoin miners continue to weather a prolonged bear market that has put many operations under strain. This has led to several mining firms and operators selling BTC in record amounts over the past few months.

Conclusion

Illegal cryptocurrency mining operations remain an issue on Borneo and other parts of Malaysia as well as elsewhere around the world despite efforts by authorities to crack down on them. Bitcoin miners meanwhile have been forced to endure a bear market that has caused many operations to struggle financially while still attempting to keep their operations running smoothly.