Tech

Watch 1,000 Bitcoin rigs get pulverized by a steamroller

Bitcoin is getting crushed right now. No, like, literally.

Not every government is a fan of cryptocurrency. China, for example, has begun systematically barring Bitcoin mining around the country, while India has mulled banning all cryptocurrencies outright. Though drastic, those measures almost pale in comparison to a recent move in Malaysia that takes a slightly heavier approach...

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In this video from Dayak Daily, a newspaper in the Malaysian state of Sarawak, authorities can be seen pulverizing 1,069 Bitcoin mining rigs with a steamroller after crypto miners were allegedly found siphoning $2 million worth of electricity from state power lines, according to CNBC.

Mining rigs were reportedly confiscated in multiple raids earlier this year and were crushed just last week despite a pretty hefty resale value of...

$1.26M

That's a heck of a lot of Dogecoin.

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While Malaysia hasn’t outlawed cryptocurrency mining, the move to publicly destroy equipment that’s been seized is a clear statement from the country, which as noted by CNBC, accounts for 3.44 percent of the world’s Bitcoin miners.

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Excessive energy use has been one of the biggest motivating factors behind Bitcoin bans, particularly in China. The U.S. has remained mostly agnostic on that front, but given the video you just watched, there’s clearly precedent enough for a crackdown if and when the political will surfaces.

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Then again, maybe Bitcoin is already getting steamrolled enough

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