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
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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.
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