Malaysian Energy Minister Akmal Nasrullah recently made an important statement, emphasizing the scale of the damage that bitcoin mining companies have caused to the country’s energy system. According to him, cryptocurrency miners systematically bypass electricity meters to use energy for their operations free of charge.
The scale of fraud and its consequences
Akmal Nasrullah reported that the damage from electricity theft related to bitcoin mining amounts to 722 million US dollars. Miners, he said, believe that their actions go unnoticed due to the absence of monitoring meters on their premises. «They are confident that their activities will not be detected due to the difficulties in monitoring and the lack of modern meters,» the minister noted.
Nasrullah stressed that illegal bitcoin mining not only causes serious damage to Malaysia’s sole major utility company, Tenaga Nasional Berhad, but also to the country as a whole. Illegal miners contribute to overloading the national energy system, which in turn has a negative impact on the daily lives of citizens.
Increase in electricity consumption and prevention measures
The Energy Minister added that with climate change, there is an increase in electricity consumption by the population. This increase in the energy system’s load is already leading to frequent overloads and the risk of prolonged power outages. In light of this, Malaysian authorities intend to take stricter measures against illegal cryptocurrency miners to prevent further power supply disruptions.
Special operations and efforts to combat illegal activities
Earlier, Malaysia’s Inland Revenue Board (IRB) conducted a large-scale special operation to combat illegal cryptocurrency mining. Measures were taken as part of the operation to identify and prevent the illegal use of electricity. This operation is part of a broader strategy to strengthen control over the energy system and ensure its reliability.
Conclusion: Next steps and prospects
Minister Nasrullah noted that combating illegal bitcoin mining and electricity theft will be a priority for the government. Authorities will need to enhance monitoring and control systems, as well as implement new technologies to detect and prevent such crimes. These measures will help protect the country’s energy infrastructure and prevent further disruptions in energy supply, ensuring stability for the residents of Malaysia and the country as a whole.
