Malaysia's Ministry of Energy said that between 2020 and August this year, the country's state-owned utility company, Tenaga Nasional Bhd (TNB), has lost more than $1 billion due to the illegal use of electricity by cryptocurrency miners.
The Ministry of Energy and Water Transformation of Malaysia said in a written reply to Parliament released on Tuesday, November 18 that during this period, the State Electricity Corporation (TENA. KL) found a total of 13,827 sites that illegally used electricity for cryptocurrency mining.
The ministry pointed out that the illegal use of electricity for cryptocurrency mining, especially bitcoin mining, has caused economic losses of 4.60 billion ringgit (about $1.11 billion), adding that the state power company is working with the relevant authorities to curb electricity theft.
Although there is currently no law specifically regulating cryptocurrency mining in Malaysia, it is illegal to tamper with meters or bypass them through illegal wiring under the Electricity Supply Act.
The Ministry of Energy said that under the joint operation of the Ministry of Energy, the police, the communications regulator, the anti-corruption agency and other law enforcement agencies, the state power company has seized multiple bitcoin mining machines at the sites involved.
Malaysia's national power company Tenaga Nasional lost more than $1 billion due to cryptocurrency mining
2025-11-19 06:54:32
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