Malaysia’s Ministry of Energy has said in an official statement that national energy utility company TNB—or Tenaga Nasional Bhd—has reported losses of roughly $1.1 billion owing to cryptocurrency mining operations illegally tampering with electricity connections, as per a South China Morning Post report.
The utility company has identified a total of 13,827 locations that have siphoned off power cryptocurrency mining operations.
“In an effort to curb this issue, a database that stores complete records of owners and tenants of premises suspected of being involved in electricity theft related to bitcoin mining activities has been established by TNB,” said the Ministry.
