Malaysia’s largest electricity utility, Tenaga Nasional Berhad (TNB), reports losses over $755 million due to illegal Bitcoin mining from 2018 to 2023. This illicit activity has significantly impacted the nation’s energy sector.
Deputy Minister Akmal Nasir highlighted that, although crypto mining represents a minor share of total energy use, its financial toll has escalated into billions. Illegal electricity connections further add annual losses of $22 million to $44 million.
Authorities have seized nearly $500,000 in electrical items, including 349 Bitcoin mining rigs. In June, Malaysian agencies initiated a major crackdown on tax evasion linked to digital assets in the Klang Valley, involving crypto trading data from devices.
The broader implications of these losses include potential tariff adjustments for citizens, emphasizing the need for stringent measures to safeguard the energy sector and economic stability.
