Key points:
Malaysian authorities arrested seven for Malaysia Bitcoin Mining electricity theft, seizing 52 rigs; RM3.4 billion ($777M) in power was stolen between 2018-2023
According to Bernama—Malaysian National News Agency — Malaysian authorities have recently arrested seven individuals, including three locals and four foreigners, for allegedly running bitcoin mining operations involving electricity theft.
Police seized 52 bitcoin mining rigs and electronic equipment worth RM250,000 ($57,000). The arrests are part of a broader effort to crack down on illegal Bitcoin mining operations in Malaysia.
Read More: Bitcoin Mining Difficulty Hits New Historic High
Amid a crackdown on electricity theft, Malaysia’s deputy energy minister reported that cryptocurrency miners have stolen RM3.4 billion ($777 million) in electricity since 2018.
Following China’s crypto mining ban in 2021, mining operations have shifted to countries like Malaysia, where competitive electricity prices and existing infrastructure make it an attractive destination for Bitcoin miners.
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