Bitcoin Mining Electricity Theft Costs Tnb Over RM441 Million

KUALA LUMPUR, Oct 24 (Bernama) -- Tenaga Nasional Berhad (TNB) suffered losses amounting to RM441,600,089.90 due to electricity theft for bitcoin mining activities between 2020 and September 2024. 

Bukit Aman Criminal Investigation Department (JSJ) Director Datuk Seri Mohd Shuhaily Mohd Zain said the information was derived from a JSJ-TNB joint operation.

He revealed that 2,091 raids were successfully carried out nationwide from 2020 to September 2024.

The breakdown saw 54 raids carried out in 2020, 2021 (529 raids), 2022 (692), 2023 (358) and 2024 (458).

"In 2020, from the raids conducted against bitcoin mining machines which were confiscated, the loss was RM5,922,976, whereas in 2021, it was RM140,454,624.

"In 2022 it (the accrued loss) was RM124,963,423, last year as much as RM67,166,744 and this year up to September it reached RM103,092,322.90," he said.

Mohd Shuhailly said this at a press conference today after TNB visited and contributed four-wheel drive (4WD) vehicles in ​​Bukit Aman.

He added that Bukit Aman was scrutinising the losses in 2022 and 2023 because the amount does not show the Bitcoin market pattern.

"This is to see whether it is due to the bitcoin market or our own constraints. If we look at the bitcoin market at that time it did decrease, so it is necessary to study whether the cryptocurrency market played a direct role," he said.

On the contribution of six 4WD by TNB to assist the Royal Malaysian Police (PDRM), in particular the JSJ, he said this was an extension of the operational success achieved in 2022 and 2023 and as a consolation for Bukit Aman JSJ Division D4 on its achievement.

"This is not the first time that TNB has donated vehicles to us, in fact in 2022, a total of nine 4WD vehicles were handed over as well as 25 containers to store case goods were also contributed last year," he said.

Mohd Shuhaily said TNB and JSJ have been cooperating since 2020 to combat electricity theft activities.

Deputy Inspector-General of Police Datuk Seri Ayob Khan Mydin Pitchay, Senior General Manager and Head of TNB Asset Management Department Zahari Dollah, and Royal Malaysian Police Secretary Datuk Kamaruzaman Abdullah were also present at the event.

-- BERNAMA