The largest electricity utility of Malaysia is now proposing some of the measures to counter the illegal theft of electricity for the purpose of crypto mining. The national utility of electricity in Malaysia is now ramping up the plans to put a stop at the electricity theft. It also has reportedly completely been on increase. This also has to do with the concept of Bitcoin mining that is even catching the high speed.
The theft of Electricity in Malaysia for bitcoin mining is evidently a serious concern. As per the latest report from January during the year, local government is also now thinking about some of the possible ways for limiting the spread. As they also have recorded the increase of more than 400% in last few years.
Great loss with theft of Electricity for Bitcoin Mining!
The above also has resulted in the great loss reportedly for some of the RM2.3 billion. It is roughly equivalent to almost $550 million. This was said by Takiyuddin Hassan, the minister of natural resources of the country. The national utility of electricity in Malaysia is now ramping up the plans to put a stop at the electricity theft for Bitcoin Mining. It also has completely increasing.
In the year 2021, authorities of Malaysia have also seized the whopping almost $13 million. It is worth for equipment of crypto mining. Moreover, this also appears that country is now gearing up for the purpose of implementing any further counter measures.
TNB, also known as Tenaga Nasional Berhad is biggest electricity utility in Malaysia. Also, wealth fund of country’s sovereign known as Khazanah Nasional Bhd is the biggest shareholder.
TNB even has proposed an introduction of the special tariff for the purpose of Bitcoin mining operators. At the same time, it even has suggest that Energy Commission of country has create pressure for the Bitcoin mining operators. It is for applying for electricity supply that is mainly from various legal sources.
