Crypto Miners in Malaysia Stole $1 Billion in Power Over Five Years [Yahoo! Finance]
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Source: Yahoo! Finance
drained roughly $1.1 billion worth of electricity over the past five years. That's a sharp spike from the rising power-theft cases authorities had disclosed earlier in May. Malaysia's Energy Transition and Water Transformation Ministry told Parliament in a written reply dated Tuesday that 13,827 premises had illegally used electricity to mine crypto since 2020, causing $1.1 billion (RM 4.57 billion) in losses to the state utility provider, according to figures first published by local outlet The Edge Malaysia “In an effort to curb this issue, a database that stores complete records of owners and tenants of premises suspected of being involved in electricity theft related to Bitcoin mining activities” had been established by the state utility provider, according to the ministry, as cited in a Reuters report. The losses reportedly stem from farms that bypassed meters or tapped straight into distribution lines, allowing industrial-scale rigs to run for long stretches without trigge
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