TNB lost RM4.57bil to illegal bitcoin mining since 2020

TNB lost RM4.57bil to illegal bitcoin mining since 2020

Deputy prime minister Fadillah Yusof says illegal bitcoin mining poses a serious threat to the country’s energy supply.

Curi TNB-Bitcoin
Thousands of bitcoin mining machines have been confiscated during joint raids by police and Tenaga Nasional Bhd. (Bernama pic)
PETALING JAYA:
Tenaga Nasional Bhd (TNB) lost RM4.57 billion over the past five years due to the illegal use of electricity by premises involved in cryptocurrency mining activities, particularly for bitcoin.

In a written parliamentary reply, deputy prime minister Fadillah Yusof said 13,827 premises nationwide were found to have been illegally using electricity to mine bitcoin from 2020 to August this year.

Fadillah, who is also the energy transition and water transformation minister, said TNB had created a database containing the complete records of owners and tenants of premises suspected of electricity theft related to bitcoin mining.

Smart meters are also being installed to enable the real-time monitoring of energy use, allowing any interference or manipulation of the meter to be detected efficiently and quickly.

Fadillah said public awareness campaigns had also been launched to educate the public about the dangers of stealing electricity and to encourage the reporting of suspicious activity.

“The ministry and the Energy Commission, together with TNB, remain committed to combating meter tampering and the illegal use of electricity, especially in bitcoin or cryptocurrency mining.

“This activity not only endangers consumer safety but also threatens national economic stability, increases public safety risks, causes property damage, and poses a serious threat to the country’s energy supply,” he said.

He was responding to a question from Khoo Poay Tiong (PH-Kota Melaka) on the number of premises found by TNB to be illegally using electricity to mine cryptocurrencies, particularly bitcoin, as well as the estimated losses and measures taken by TNB to curb such activities.

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