Mayasia Hit By $1B Power Theft as Illegal Crypto Miners Drain the Grid
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Malaysia’s electric utility provider Tenaga Nasional Bhd (TNB) revealed that it has suffered losses of more than $1 billion due to increased electricity theft linked to cryptocurrency mining over the past four years.
A parliamentary filing this week revealed that nearly 14,000 premises were found to have tapped power illegally since 2020, with operators bypassing or tampering with meters to run mining equipment without detection.
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Mayasia Hit By $1B Power Theft as Illegal Crypto Miners Drain the Grid
Share:
Malaysia’s electric utility provider Tenaga Nasional Bhd (TNB) revealed that it has suffered losses of more than $1 billion due to increased electricity theft linked to cryptocurrency mining over the past four years.
A parliamentary filing this week revealed that nearly 14,000 premises were found to have tapped power illegally since 2020, with operators bypassing or tampering with meters to run mining equipment without detection.
Read More
Stunning Bitcoin Mining Resurgence: China Defies Ban to Claim Third Place Globally