We have talked about this before but in case you haven't, bitcoin miners have been siphoning lots of electricity. Even though a couple of bitcoin mining operations have been busted over the few years, the government reported that there has been an estimated loss of electricity for more than RM2.3 billion.
Due to illegal bitcoin mining activities, there is a 400% increase in electricity theft in just four years. According to the Minister of Energy and Natural Resources, Takiyuddin Hassan, he said it started with 610 cases in 2018, followed by 1043 in 2019, 2465 in 2020 and finally 3091 in 2021. That's a total of 7209 cases in four years.
Besides the increase of online mining activities affecting the energy industry, it will also affect the stability of the electricity support system and public safety, said Hassan. For example, he said high-powered cryptocurrency mining machines that are running non-stop could cause the risk of fires from overloading cable capacity. Furthermore, illegal connection or tampering with metre installations would disrupt the reading.
Under the Electricity Supply Act 1990, anyone who is involved in electricity theft with the Tenaga Nasional Berhad (TNB)'s installations may be fined up to RM1 million or imprisonment of up to 10 years, or both. Moreover, Hassan also said those involved would be prosecuted for theft and mischief.
In addition, those who committed such offences could also be prosecuted for theft and mischief. Hassan lastly added that he welcomes cooperation from everyone to combat these illegal mining activities and asked the public to report to the authorities on suspicious movements. Stay safe and stay tuned for more trending tech news at TechNave.com.
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