Malaysia's Crypto Mining to Soar 110% Despite $100M Power Theft

Malaysia's Crypto Mining to Soar 110% Despite $100M Power Theft

Malaysia’s Crypto Mining Boom Threatened By $100 Million Power Theft - Coin Surges

Malaysia’s crypto miners are at a crossroads. A new study by the ACCESS Blockchain Association of Malaysia points to big gains ahead. But it also warns that illegal outfits are draining more than RM441 million from the power grid between 2020 and 2024. That $100 million loss has hit both public safety and investor trust. Malaysia Mining Faces Power Theft Crisis According to national utility Tenaga Nasional Berhad (TNB), hidden rigs in homes and …

Unregulated Crypto Mining Spikes In Malaysia

In Malaysia, illegal cryptocurrency mining is becoming a bigger problem because of unclear policies and low electricity costs. Mining itself is not illegal, but the widespread theft of electricity to power mining rigs has caused utility companies to lose a lot of money and generated worries about public safety. Theft of $723 Million in Electricity In Malaysia, between 2018 and 2023, almost $723 million worth of electricity was stolen because of …

Malaysia Grapples with Surging Crypto Mining and Electricity Theft

Malaysia has lost over 3.4 billion ringgit (USD 723 million) to electricity theft tied to illegal crypto mining operations.  Industry leaders urge regulatory reforms to curb theft and unlock a USD 5 billion legal crypto mining market by 2025. Malaysia’s been hit hard with RM3.4 billion gone, which comes out to around USD 723 million, all because of power being stolen for illegal crypto mining. That’s Ringgit Malaysia, the country’s own currency,…

Malaysia Risks Losing Billions to Crypto Mining Chaos

The Access Blockchain Association of Malaysia has raised concerns that the country could miss out on the growing crypto mining market due to ongoing issues like electricity theft, unclear policies, and a lack of legal direction.

Illegal crypto mining surges in Malaysia amid unclear policies

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