Tenaga Nasional, the national electricity company of Malaysia, has suffered losses of over 1 billion dollars due to electricity theft for encryption Mining.

[Tenaga Nasional, the national electricity company of Malaysia, suffers over $1 billion in losses due to theft of electricity for crypto mining] The Malaysian Ministry of Energy stated that from 2020 to August this year, the state-owned utility company, Tenaga Nasional Bhd (referred to as TNB), has incurred losses exceeding $1 billion due to illegal electricity usage by crypto assets miners. The Malaysian Ministry of Energy and Water Transformation stated in a written parliamentary reply released on November 18 (Tuesday) that during this period, the national utility company (stock code: TENA.KL) discovered a total of 13,827 locations engaging in illegal electricity usage for Crypto Assets Mining. The department pointed out that illegal electricity use for crypto assets mining (especially Bitcoin mining) has caused economic losses of 4.6 billion ringgit (approximately 1.11 billion US dollars), and added that the national electricity company is working with relevant authorities to curb electricity theft. Although Malaysia currently has no specific regulations governing Crypto Assets mining, tampering with electric meters or bypassing electric meters through illegal wiring are both considered illegal acts under the Electricity Supply Act. The Ministry of Energy stated that, through a joint operation involving the department, police, telecommunications regulatory agency, anti-corruption agency, and other law enforcement agencies, the State Power Company has seized multiple Bitcoin Mining machines at the locations involved.