Power Theft For Bitcoin Mining Costs RM4.8 Bln - Akmal Nasrullah

ALOR SETAR, July 17 (Bernama) -- Electricity theft linked to illegal bitcoin mining activities has caused RM4.8 billion in losses from 2018 to June this year, said Deputy Energy Transition and Water Transformation Minister Akmal Nasrullah Mohd Nasir.

He said the situation is alarming and calls for continuous enforcement to prevent further losses.

“Since 2018, electricity theft involving illegal bitcoin mining has cost RM4.8 billion - a massive loss.

“In terms of cases, we recorded 2,399 cases from 2023 to 2024 and this year alone, up to June, there have already been 1,800 cases,” he said.

He was speaking to reporters after a joint operation involving the Energy Commission, Tenaga Nasional Berhad and other agencies, targeting seven premises suspected of electricity theft here today.

Akmal Nasrullah said the surge in cases is driven by the rising value of bitcoin, which now exceeds RM500,000 per unit.

“This creates challenges for enforcement, as more are willing to take the risk of stealing electricity for mining,” he said.

On today’s operation, he said the seven premises 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 said.

-- BERNAMA