MIRI – Three large illegal Bitcoin crypto-currency mining centres have been busted here during a series of joint raids carried out by the police and Sarawak Energy Bhd (SEB), the producer and supplier of electricity in Sarawak.
The centres were uncovered in shoplots at the Taman Tunku and Lopeng commercial centres, as well as in a factory premises in the Miri Bypass Industrial Park, over the past two days.
Miri police chief ACP Hakemal Hawari said that over 300 units of Bitcoin-mining equipment and computers have been seized.
“The equipment seized from these premises, which were used for illegal cryptocurrency mining, are worth about RM1.4 million. Three persons have been arrested so far,” he said in a statement today.
It is understood that the resulting Bitcoin value of the transactions is still being calculated.
“These premises were also operating using electricity stolen from the SEB power system. The amount of electricity stolen by these three premises are estimated to be worth RM1.43 million.”
According to Investopedia, Bitcoin mining is performed by high-powered computers that solve complex computational math problems. The “miners” operating them are rewarded for their work with crypto tokens.
Miners have become very sophisticated over the last several years, using complex machinery to speed up mining operations.
Hakemal said SEB technicians have cut off the power supplies to these premises, and the units have been sealed off pending investigations.
The three suspects have been remanded. They are being probed for stealing electricity and operating illegal cryptocurrency trading centres, he added. – The Vibes, March 20, 2021
