Stealing Bitcoin mining machines is stupid, prominent crypto advocate clarifies: “Don’t they know that these devices lose value quickly…” – Cleanspark (NASDAQ:CLSK)
Jameson Loppa software engineer and Bitcoin BTC/USD Advocate pointed to two significant cases in which Bitcoin mining equipment was stolen, but questioned the goals of the robbers behind them.
What happened: Lopp took X on Thursday to share the news of two separate arrests related to the theft of bitcoin mining hardware. One arrest was made in Los Angeles, the other in Baton Rouge. Lopp pointed out the folly of such thefts, noting that the stolen equipment quickly loses value when not in use.
The Los Angeles Police Department recovered $579,000 worth of stolen Bitcoin mining computers and arrested a suspect. In the second case, the Baton Rouge Police Department discovered 247 stolen machines and booked the suspect for illegal possession of stolen property.
Lopp pointed out the folly of such thefts, noting that the stolen equipment quickly loses value when not in use. “Don’t they know that these devices quickly lose value when they’re sitting in storage?” he asked.
See also: ‘Dogecoin Killer’ Shiba Inu’s Burn Rate Rises to 8,596%: ‘Something Special’ Is Brewing, Says Marketing
Why it is important: Theft of Bitcoin mining equipment is becoming a growing concern in the cryptocurrency community.
These machines, which can solve complex mathematical problems and earn bitcoins, are expensive and in high demand. However, as Lopp pointed out, their value drops rapidly when they are not used, making the thefts pretty pointless.
At the time of writing, the largest Bitcoin miners by market capitalization are Marathon Digital Holdings Inc. MARA, CleanSpark Inc. CLSKAnd Riot Platforms Inc. REVOLT.
According to data from Benzinga Pro, Bitcoin was trading at $57,048.21 and is down 2.23% in the last 24 hours.
Mohamed Hassan from Pixabay
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