Bitcoin News Update: Malaysia Faces $1 Billion Electricity Theft Scandal as Secret Crypto Mining Operations Jeopardize Power Grid Stability
- Malaysia's TNB confirmed $1.1B electricity losses from 13,827 illegal crypto mining sites (2020-2025), threatening grid stability and economic security. - 300% surge in power theft cases (2018-2024) involves bypassing meters, hidden warehouses, and industrial cooling to evade detection. - TNB deployed smart meters, real-time monitoring, and targeted raids, seizing 900 Bitcoin machines worth $482K in 2024. - Government considers licensing frameworks and energy pricing reforms to formalize crypto mining am
Malaysia’s state-owned power provider, Tenaga Nasional Berhad (TNB), has reported that illegal cryptocurrency mining has led to electricity revenue losses surpassing $1.1 billion from 2020 through August 2025. The Ministry of Energy
These unauthorized mining activities typically involve tampering with meters or making illegal connections to the power grid, practices
In response, TNB has
The financial and infrastructure dangers posed by unchecked theft have spurred policy action. The Ministry of Energy
On a global scale, Malaysia’s situation is similar to that of other nations with subsidized power, like Iran, Russia, and Paraguay,
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Bitwise Big Solana Moment As Investors Pour $39.5M Into SOL ETF
Quick Take Summary is AI generated, newsroom reviewed. Bitwise recorded a massive $39.5M Solana ETF inflow, its highest since launch. Investor confidence grows as Solana institutional demand rises sharply. Crypto ETF inflows shift toward networks with high utility and real activity. Solana continues to attract strong long term interest due to its speed and scalability.References Bitwise's $SOL ETF just saw $39.5M in inflow, the HIGHEST since launch.
Ethereum Spot ETFs Record 96.6M Net Inflows With ETHA Adding 92.6M
Quick Take Summary is AI generated, newsroom reviewed. Ethereum spot ETFs recorded total net inflows of $96.67 million on November 24, reversing a recent trend of major outflows. BlackRock's ETHA dominated the day's inflows, accounting for $92.61 million of the total. The total net assets held by all Ethereum ETFs rose to $18.44 billion, representing 5.14% of Ethereum's market cap. The return of strong inflows suggests investors are repositioning into ETH after a period of market cooldown and volatility.Re
Bitcoin ETFs Record 151M Outflow While ETH and SOL ETFs Post Strong Inflows
Quick Take Summary is AI generated, newsroom reviewed. Bitcoin ETFs recorded a $151.08 million net outflow, showing continued rotation despite BTC trading near $89,000. BlackRock's IBIT saw the largest withdrawal with $149.13 million, while Fidelity's FBTC was the only BTC fund with inflows ($15.49 million). Ethereum ETFs posted a strong rebound with $96.67 million in net inflows, dominated by BlackRock's ETHA. Solana ETFs also saw significant momentum, attracting a net inflow of $57.99 million, signaling
Asset Manager Franklin Templeton Calls XRP Foundational for Settlement
Quick Take Summary is AI generated, newsroom reviewed. Franklin Templeton launched its new spot XRP ETF (XRPZ) on NYSE Arca this week. Roger Bayston, Head of Digital Assets, called XRP "foundational" for global settlement infrastructure. The ETF uses Coinbase Custody and BNY Mellon, providing strong institutional backing and regulated access. The new ETF reportedly drew $89.3 million in initial inflows, signaling strong institutional and retail demand.References Franklin Templeton Says $XRP Plays a Foundat