"Malaysia sees surge in Bitcoin mining cases related to power theft… crackdown intensifies"
Summary
- The Malaysian government said it is strengthening nationwide crackdowns in response to a surge in power theft related to illegal Bitcoin mining.
- Since 2020, cumulative damages have reached about $1.1 billion, and the number of detected illegal mining facilities stands at 14,000.
- The government is discussing measures such as an outright ban on mining and strengthening the permit system, and said it continues to crack down using advanced technologies such as drone thermal detection.
The Malaysian government has reportedly stepped up nationwide crackdowns after a surge in electricity theft resulting from illegal Bitcoin (BTC) mining.
On the 9th, crypto-focused media EtherNews reported that Malaysia's state-owned power company Tenaga Nasional Berhad (TNB) said some miners have been bypassing meters to use electricity 24 hours a day without authorization. Cumulative damages since 2020 are estimated at about $1.1 billion, and the number of suspected illegal mining sites detected reaches 14,000.
Mining itself is legal in Malaysia, but electricity purchase regulations must be followed. Within the government, measures ranging from considering an outright ban to strengthening the permit system are reportedly under discussion. Authorities are deploying advanced detection technologies such as drone thermal detection and portable scanners to enforce regulations, and in a recent operation 30 mining rigs were seized and an operator was arrested.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
!['Easy money is over' as Trump pick triggers turmoil…Bitcoin tumbles too [Bin Nansa’s Wall Street, No Gaps]](https://media.bloomingbit.io/PROD/news/c5552397-3200-4794-a27b-2fabde64d4e2.webp?w=250)
![[Market] Bitcoin falls below $82,000...$320 million liquidated over the past hour](https://media.bloomingbit.io/PROD/news/93660260-0bc7-402a-bf2a-b4a42b9388aa.webp?w=250)
