Malaysian electricity utility raids premises of 33 bitcoin miners accused of stealing $760,000 in power


Tenaga Nasional Bhd (TNB), one of the largest electricity suppliers in Malaysia, has raided 33 bitcoin mining premises suspected of stealing power.

The premises bypassed meters and used electricity directly from TNB, which resulted in a loss of 3.2 million Malaysian ringgit ($760,736) for the supplier, Malay Mail reported Wednesday.

One location, for instance, was using 1,500 Amp (ampere) of unmetered electricity while the meter was only showing 3 Amp.

“The metered 3 Amp was used only for one lamp and a suction fan. They paid a bill of only RM219 [$52] whereas they should have been billed RM108,000 [$25,674] a month for the unmetered 1,500 Amp,” explained Siti Sarah Johana Mohd Said, general manager of metering and distributing network at TNB.

Trending Stories

Get Your Crypto
Daily Brief

Delivered daily, straight to your inbox.

Layer-2 Scaling Solutions: A Framework for Comparison - Commissioned by Polygon

Ethereum had a breakout year in 2021. It’s native asset, ETH’s, market capitalization surpassed $500 billion for the first time. Its network facilitated upwards of $7 trillion value transfer. Non-fungible tokens (NFTs) emerged as another “killer application” that have put its technology on the global stage and caught the attention of the masses.
Read Full Story
May 5, 2022, 3:17PM UTC