Cryptocurrency mining activities such as Bitcoin increased last year in Malaysia after its value doubled, driven by support from President Trump. Bitcoin owners made huge profits but at the same time the country lost up to RM700 million due to electricity theft by crypto miners.
This was confirmed by the Deputy Minister of Energy Transition and Water Transformation, Datuk Seri Abdul Rahman Mohamad yesterday. Electricity theft activities are becoming more widespread, not only occurring in business premises but now also in residential areas. Homeowners are reminded to be more careful with tenants because they can be held accountable if something goes wrong.
The government recommends that homeowners transfer TNB electricity accounts to tenants to ensure that the responsibility for electricity consumption is borne by the actual user.
Among the cases involving illegal crypto mining activities occurred last year. A landlord in Ipoh had to pay an electricity bill of RM 1,142,511.75 after a tenant used their premises to illegally mine crypto. In July 2024, TNB said they had lost RM3.4 billion in energy revenue over the five years between 2018-2023.
