The Access Blockchain Association of Malaysia has raised concerns that the country could miss out on the growing crypto mining market due to ongoing issues like electricity theft, unclear policies, and a lack of legal direction.
While the global crypto mining industry is expected to expand, from $2.44 billion to $5.13 billion by 2025, the report warns that Malaysia may not benefit unless it addresses these internal issues.
The main problem is electricity theft. Malaysia’s largest power company, Tenaga Nasional Berhad (TNB), lost over 441 million ringgit (about $104 million) from 2020 to September 2024 due to illegal power use, mostly by unauthorized Bitcoin
$107,192.91
miners. Between 2018 and 2021, those losses were even reached 2.3 billion ringgit.
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Instead of treating illegal mining only as a problem, the report suggests it could become a source of income if brought under control. By connecting these operations to official power meters, TNB could stop the theft and earn legitimate revenue.
Legal crypto mining businesses already exist in Malaysia, but many of them stay out of the spotlight. According to the report, some avoid attention because they worry about sudden changes in rules, data theft, or even physical attacks.
Still, some companies are beginning to invest in above-ground mining setups. One example is Hatten Land, which has started partnerships in Melaka with Hydra X and Frontier Digital Asset Management.
Recently, authorities in Malaysia shut down an illegal Bitcoin mining operation in Hulu Terengganu and Marang. How did they do it? Read the full story.
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.
