Shocking video shows rental unit transformed into bitcoin mining farm

 

EVERY LANDLORD dreams for a stable, reliable tenant who pays his rent on time. But the experienced landlord knows that this is not enough. 

Periodic checks and surprise visits need to be done to ensure the tenant does not do anything weird with the unit. 

This advice is best exemplified by a shocking video post on X by netizen @mhmmdhsm where the rental unit had been rendered unrecognisable.

This isn’t some dirty tenant from hell who turns the unit into a veritable landfill. In the brief video, pipes could be seen snaking across the living space. Even the ceiling was not spared. 

It is as though some alien had set up shop in the rental unit. But people who are knowledgeable in cryptocurrency will immediately point out that the unit is being used for bitcoin mining.

“That’s why I put in the agreement, no mining bitcoin or anything. It can cause skyrocketing bills, noise pollution and can cause fires due to the heat,” said netizen @elhumss in the comment section.

Note that bitcoin operations consume a good deal of electricity. The annual electricity consumption dedicated to bitcoin mining is comparable to that of a small country such as Poland, said Polytechnique insights.

It is estimated at 155 TWh per year to 172 TWh per year, or 162 TWh per year according to the Cambridge Centre for Alternative Finance.

The International Energy Agency, meanwhile, estimates that cryptocurrencies would have consumed 110 TWh of electricity by 2022, or 0.4% of annual global demand. 

Returning to the comment section, another netizen suggests that the landlord should change the TNB account to the name of the renter to avoid paying the exorbitant electricity bill.

But @wfr3104 countered that TNB has a way of collecting the payment from the owner even though the account is registered under the renter.

The video post also prompted @yourlifesosad to share about his experience where his office unit had been turned into a bitcoin mining farm for over six years.

He added that strangely, the electricity bill was not expensive. Likely, electricity has been syphoned out of the main grid through illegal means.

As cryptocurrency mining becomes increasingly accessible, cases like this serve as a cautionary tale for landlords who may unknowingly expose themselves to financial losses, property damage and even legal headaches. 

In today’s rental market, collecting rent on time is only half the battle, as this landlord has discovered through the hard way.

Ensuring what actually goes on behind closed doors may matter just as much. — Focus Malaysia