Stealing Bitcoin Mining Machines Is Stupid, Says Prominent Crypto Advocate: ‘Don’t They Know These Devices Lose Value Fast…’ – Cleanspark (NASDAQ:CLSK)

Jameson LoppSoftware Engineer and Bitcoin BTC/USD The spokesman, describing two serious incidents involving the theft of Bitcoin mining equipment, questioned the goals of the thieves in these actions.

What happened: Lopp took to X on Thursday to share news of two separate arrests made in connection with the theft of Bitcoin mining equipment. One arrest occurred in Los Angeles and the other in Baton Rouge. Lopp pointed out the folly of such thefts, noting that stolen devices quickly depreciate in value when not in use.

The Los Angeles Police Department recovered $579,000 worth of stolen bitcoin mining computers and arrested a suspect. In a second case, the Baton Rouge Police Department recovered 247 stolen machines and arrested a suspect for illegal possession of stolen property.

Lopp pointed out the stupidity of such thefts, noting that stolen devices depreciate quickly when not in use. “Don’t they know that these devices depreciate quickly when stored?” he asked.

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Why is this important: Theft of Bitcoin mining equipment is an increasingly serious problem in the cryptocurrency community.

These machines, which are used to solve complex mathematical problems to earn Bitcoin, are expensive and in high demand. However, as Lopp noted, their value quickly depreciates when not in use, making thefts somewhat futile.

At the time of writing, the largest Bitcoin miners by market capitalization are: Marathon Digital Holdings Inc. MARA, CleanSpark Inc. KSKAND Riot Inc. Platforms. RIOT.

Bitcoin was trading at $57,048.21, down 2.23% in the last 24 hours, according to Benzinga Pro data.

Mohamed Hassan from Pixabay

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