The post Indonesian Police Halt Major Bitcoin Mining Operations Over Electricity Theft Concerns appeared on BitcoinEthereumNews.com.

– Advertisement – Indonesian law enforcement shuts down 10 Bitcoin mining sites, citing major electricity theft. 1,134 Bitcoin mining machines confiscated in a crackdown against illegal energy usage. “The total loss is estimated at nearly $1 million USD,” states North Sumatra Police Chief. This article explores the recent shutdown of Bitcoin mining operations in Indonesia due to alleged electricity theft, highlighting the impact on the crypto mining industry. Crackdown on Illegal Bitcoin Mining In a significant move against illegal cryptocurrency mining, Indonesian police authorities have recently closed down ten Bitcoin mining operations across the region. This action was taken after discovering that these operations were allegedly involved in stealing electricity to power their mining activities. The Chief of North Sumatra Police, Irjen Agung Setya Imam Effendi, highlighted the severity of the electricity theft, which is estimated to have caused losses nearing $1 million USD. Details of the Operation and Seizures The crackdown led to the confiscation of 1,134 Bitcoin mining machines, along with essential computer equipment and electrical cables. The police force’s investigation revealed that the organizers had tampered with electrical circuits to divert electricity directly from the poles, bypassing the standard metering process. This malpractice not only caused significant financial losses but also raised concerns over the illegal and unsustainable practices within the Bitcoin mining industry. Global Context: Cryptocurrency Mining and Electricity Theft The incident in Indonesia is not isolated. Similar cases have been reported globally, where Bitcoin mining operations have been found guilty of electricity theft. For instance, a recent case in China saw a government official sentenced to life in prison for aiding in illegal Bitcoin mining. Yi Xiao, the former vice chairman of the Jiangxi Provincial Political Consultative Conference Party Group, was found guilty of abusing his power to facilitate electricity access for Bitcoin miners, leading…

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Filed under: News - @ December 30, 2023 7:22 am