KUALA LUMPUR, July 10 — The country has lost RM3.4 billion from 2018 due to the theft of electricity for cryptocurrency (bitcoin) mining, said Deputy Energy Transition and Water Transformation Minister Akmal Nasrullah Mohd Nasir.
He said these increasingly widespread activities are detrimental not only to Tenaga Nasional Bhd, but also to the people and the country.
“The theft of electricity by those who mine cryptocurrency occurs because they believe this activity cannot be detected due to the absence of meters on their premises. However, energy supply companies have various methods to detect unusual energy consumption in an area,” he said.
He said this to reporters at the disposal of confiscated goods related to electricity theft and electrical equipment without security certificates from the Energy Commission (ST) in Balakong near here today.
Also present were ST chief operating officer V. Sanjayan and ST Area Enforcement and Operations director Ismail Zaili Yusop.
Akmal Nasrullah said efforts to combat the theft of electricity are a priority for his ministry, alongside increasing the production of green and renewable energy.
Akmal Nasrullah said today’s disposal of goods involved 2,022 seized items worth RM2.2 million.
He said the items include bitcoin mining machines seized in an operation in October 2022, electrical goods that do not have ST safety certificates, and goods involved in electrical accident cases.
He said the goods will be sustainably disposed of, in compliance with requirements under the Environmental Quality Act 1974 and the Environmental Quality (Scheduled Wastes) Regulations 2005.
— Bernama
