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How is Electricity Theft Impacting Bitcoin Mining in Indonesia and China? 💸
Indonesian law enforcement seized 1,134 Bitcoin mining machines in a crackdown on 10 operations, alleging electricity #theft nearing $1 million.
The North Sumatra Police closed down the multi-site operation, claiming organizers tampered with electrical circuits to power the machines. This resulted in an estimated #loss of 14.4 billion Indonesian rupiahs.
Additionally, a Chinese official was sentenced to life for enabling electricity access to a $329 million #Bitcoin mining enterprise, which at one point consumed 10% of a city's electricity supply.
These incidents highlight the serious impact of electricity theft on Bitcoin mining in Indonesia and China.
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