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Bitcoin mining power theft causes great losses for Malaysia

In a recent crackdown, two houses in Malaysia were suspected of engaging in electricity theft for bitcoin mining, with losses estimated at about 34,000 MYR per month, potentially exceeding 200,000 MYR over several months.

Kuala Lumpur (VNA) – Malaysia loses an estimated 700 million MYR (about 177 million USD) annually due to electricity theft linked to illegal bitcoin mining, said Malaysian Deputy Minister of Energy Transition and Water Transformation Datuk Seri Abdul Rahman Mohamad.

The official said efforts to curb the activity will be intensified nationwide to reduce losses and ensure fairness for consumers who pay their electricity bills.

Illegal bitcoin mining has been detected not only in business premises but also in residential areas. Homeowners have been urged to be vigilant about their tenants as they may be held responsible if action is taken.

In a recent crackdown, two houses were suspected of engaging in electricity theft for bitcoin mining, with losses estimated at about 34,000 MYR per month, potentially exceeding 200,000 MYR over several months.

Local authorities also warned that such practices pose serious safety risks, including fire hazards and electric shocks, due to illegal wiring and the use of high-capacity equipment that can overload power systems. Residents are encouraged to remain vigilant and report any unusual electricity consumption patterns./.

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VNA
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