"It's true that only crypto miners are responsible for the loss of electricity supply, who knows there are other groups who are also taking advantage."
Malaysia's Deputy Minister of Energy Transition and Water Transformation, Akmal Nasrullah Mohd Nasir blamed Bitcoin (BTC) cryptocurrency miners as the cause of the country losing RM3.4 billion in electricity supply between 2018 and 2023.
Nasir admitted that BTC mining activity is becoming more and more widespread due to miners who think their operations are undetectable, but energy supply firms can actually detect unusual energy consumption in any area using different methods.
The string, the Malaysian government plans to stop the theft of electricity by crypto miners as part of its goal to facilitate the production of green, renewable energy especially reducing the country's carbon footprint.
Reportedly, Nasri's statement was made early Wednesday yesterday when the Malaysian Ministry acted to dispose of loot related to the theft of electricity and electrical equipment without a safety certificate from the Energy Commission (ST) in Balakong.
The disposal involved a total of 2,022 confiscated items including BTC mining machines, where the total amount of the items amounted to RM2.2 million which is equivalent to $468,000.
According to Nasir further, the items were transferred to be disposed of by the deputy public prosecutor in accordance with Section 406A and 407 of the Code of Criminal Procedure immediately after going through the court and compound process.
Earlier this year, miners were found to have started moving their operations to Ethiopia due to the country's very low electricity costs and the positive attitude towards crypto adopted by the local government.
