Malaysia’s crypto miners are at a crossroads. A new study by the Malaysia Visit Blockchain Association shows that future benefits are huge. But it also warned that illegal clothing had been discharged from more than RM441 million on the grid from 2020 to 2024. The $100 million loss hit public safety and investor trusts.
Malaysian mining faces power theft crisis
According to the National Utility Tenaga Nasional Berhad (TNB), hidden rigs in homes and offices have been digging the grid without permission. Over the past five years, TNB has recorded RM441 million worth of electricity losses. That was more than $100 million of the stolen electricity.
Now, grid instability is rising. Local community risk interruption. Real miners are worried that their bills may soar to make up for the shortage.
Growth of legal mining could bring RM700 million
According to Access’s report, hardware and infrastructure that formalizes cryptocurrency mining can release RM700 million this year alone. It can also create 4,000 new jobs and increase annual income by about RM150 million.
Malaysia has ranked among the top ten countries in the world through its Bitcoin hashrate share. In places like East Sarawak, cheap industrial tariffs help explain interest rate hikes. However, many legal players are still within range. They are afraid of unclear rules and sudden policy changes.
Source: ACCESS Blockchain Association
Regulators urge action
The study notes that no agents provide licensing specifically for mining. The Securities Commission is responsible for asset trading and custody, but it stops there. The miner does not have a special license. They face vague electricity bills and vague environmental rules.
This confusion prevents investors who want to be stable. Access clear mining permits, fair pricing and defined environmental inspections.
Illegal mining has also soared in neighboring Thailand and Indonesia. Between 2018 and 2024, thefts related to crypto rigs increased by nearly 300%, totaling nearly 2,400 cases. This regional trend highlights the common headache. If Malaysia does not tighten its laws, it is possible to lose credibility in the rapidly growing digital assets sector.
Source: TNB
TNB has begun using smart meter and data analysis to detect theft as soon as possible. But law enforcement is still spotty. Multiple government agencies have the responsibility, which means cases often slip through cracks. Without a unified team, illegal operators keep hitting the grid and the public.
Access recommends updating the landlord liability law so that building owners cannot turn a blind eye to unauthorized rigs. It also recommends sustainability-related energy pricing to push miners toward greener power.
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