Bitcoin mining power theft costs Malaysia RM4.8 billion
He described the situation as alarming, stressing the need for continuous enforcement to curb further financial damage.
'Since 2018, electricity theft involving illegal bitcoin mining has cost RM4.8 billion - a massive loss,' he said.
Between 2023 and 2024, authorities recorded 2,399 cases, with 1,800 cases reported in the first half of this year alone.
The surge in incidents is attributed to the rising value of bitcoin, now exceeding RM500,000 per unit.
'This creates challenges for enforcement, as more are willing to take the risk of stealing electricity for mining,' Akmal Nasrullah explained.
He spoke to reporters after a joint operation involving the Energy Commission, Tenaga Nasional Berhad, and other agencies.
Seven premises suspected of electricity theft were raided under Section 37(3) of the Electricity Supply Act 1990, with warrants obtained from the court.
'Our focus is to stop electricity theft, and public cooperation is crucial. If you see cables being connected illegally without going through the meter, report it,' he urged. - Bernama
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