![Average Onchain Bitcoin Fees Drop Below , Lowest in Over 250 Days Average Onchain Bitcoin Fees Drop Below , Lowest in Over 250 Days](https://static.news.bitcoin.com/wp-content/uploads/2024/07/bammargeras-768x432.jpg)
Malaysia’s Deputy Minister of Energy Transition and Water Transformation revealed the number during an event where they disposed of over 2,000 machines seized in an operation.
Illegal crypto mining operators in Malaysia stole $723 million worth of electricity between 2018 and 2023, according to Malaysia’s deputy minister for energy and water.
Deputy Minister of Energy Transition and Water Transformation Akmal Nasrullah Mohd Nasir made the comment during an event that saw the disposal of 2,022 seized items worth around $467,000, including Bitcoin mining machines and electrical equipment, according to a report by Malay Mail.
Nasir said these illegal mining operations are harming not only Malaysia’s state-controlled power operator Tenaga Nasional Berhad, but also locals in affected areas.
Bitcoin miners have earned less than 2 Bitcoin combined from Runes transactions over the last six straight days — an enormous drop from its record 884 Bitcoin on April 24.
Runes, a new token standard on the Bitcoin blockchain, has seen its daily average transaction count plummet over 88% from its highest point this month.
Daily Runes transactions averaged out at 37,820 between June 22-28, marking a near-90% fall from the 331,040 daily average seen between June 9-15, according to Dune Analytics data from Crypto Koryo.
It includes 23,238 transactions made on June 24 — the lowest since the protocol launched at Bitcoin’s fourth halving event on April 20.
The biggest winners on June 12 were TeraWulf, Hut 8 Mining and Core Scientific.
Bitcoin (BTC) mining stocks soared double digits on Wednesday a day after United States presidential candidate Donald Trump promised to bolster mining operations in the country.
Trump said he wants “all the remaining Bitcoin to be MADE IN THE USA!!!” adding it would help the country be “ENERGY DOMINANT” in a June 12 post, which came shortly after a meeting he hosted with some of the industry’s top executives.
Trump also reportedly told the industry executives that he promised to support the sector should he be elected as president in November.