Malaysia very big. $1.1 billion in 5 years very tiny
coinfeeds-bot on
tldr; Malaysia has lost over $1.1 billion due to electricity theft by illegal Bitcoin miners since 2020. Utility company Tenaga Nasional Berhad (TNB) identified 13,827 premises involved in siphoning power from the national grid. Authorities are combating the issue with smart meter surveillance, a database of suspects, and nationwide police raids. Illegal crypto mining threatens the national energy supply and economic stability, prompting intensified enforcement and coordinated actions to safeguard infrastructure.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
HSuke on
Just a reminder that every mined Bitcion block uses $320,000 worth of electricity, which is paid through Bitcoin inflation.
**That’s $110 of energy spent per Bitcoin transaction**
Micronlance on
This kind of crackdown usually pushes miners toward stricter jurisdictions or off-grid setups, so the real hash rate impact may be smaller than the power number suggests.
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plot twist government is mining.
Malaysia very big. $1.1 billion in 5 years very tiny
tldr; Malaysia has lost over $1.1 billion due to electricity theft by illegal Bitcoin miners since 2020. Utility company Tenaga Nasional Berhad (TNB) identified 13,827 premises involved in siphoning power from the national grid. Authorities are combating the issue with smart meter surveillance, a database of suspects, and nationwide police raids. Illegal crypto mining threatens the national energy supply and economic stability, prompting intensified enforcement and coordinated actions to safeguard infrastructure.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
Just a reminder that every mined Bitcion block uses $320,000 worth of electricity, which is paid through Bitcoin inflation.
**That’s $110 of energy spent per Bitcoin transaction**
This kind of crackdown usually pushes miners toward stricter jurisdictions or off-grid setups, so the real hash rate impact may be smaller than the power number suggests.