Tuesday, May 24, 2022
  • Hype
  • Murai
  • Lipstiq
  • Diva
  • Varnam
  • Moviedash
  • Autofreaks
Lowyat.NET
  • News
    • Lifestyle
    • Computing
    • Hardware
    • Internet
    • Rumours & Leaks
    • Software
  • Forums
    • Kopitiam
    • Tradezone
    • Property Talk
    • Finance & Business
    • Fast and Furious
  • Gaming
    • PC Gaming
    • Console
    • Esports
  • Mobile
    • Apps
    • OS
    • Tablets
    • Phones
    • Telco
      • Celcom
      • DiGi
      • Maxis
      • Tune Talk
      • U Mobile
      • Buzzme
  • Pricelists
    • Hardware
      • Compu-zone
      • Viewnet
      • Thundermatch
      • Sri Computers
    • Notebooks
      • Compu-zone
    • Smartphones
      • Thundermatch
  • More
    • Automotive Tech
    • Drone
    • Enterprise
    • Entertainment
    • Fashion
    • E-Hailing
    • Wearables
No Result
View All Result
Lowyat.NET
  • News
    • Lifestyle
    • Computing
    • Hardware
    • Internet
    • Rumours & Leaks
    • Software
  • Forums
    • Kopitiam
    • Tradezone
    • Property Talk
    • Finance & Business
    • Fast and Furious
  • Gaming
    • PC Gaming
    • Console
    • Esports
  • Mobile
    • Apps
    • OS
    • Tablets
    • Phones
    • Telco
      • Celcom
      • DiGi
      • Maxis
      • Tune Talk
      • U Mobile
      • Buzzme
  • Pricelists
    • Hardware
      • Compu-zone
      • Viewnet
      • Thundermatch
      • Sri Computers
    • Notebooks
      • Compu-zone
    • Smartphones
      • Thundermatch
  • More
    • Automotive Tech
    • Drone
    • Enterprise
    • Entertainment
    • Fashion
    • E-Hailing
    • Wearables
No Result
View All Result
Lowyat.NET
No Result
View All Result
Home Cryptocurrency

TNB Wants To Implement Special Tariff For Cryptocurrency Mining

The proposal apparently has been submitted to the Energy Commission.

by Ikmal Rozlan
March 2, 2022
TNB bitcoin mining

[Photo: Bernama]

310
SHARES
6.2k
VIEWS
Share on FacebookShare on Twitter

It seemed that Tenaga Nasional Berhad (TNB) may have gotten fed up with illegal electricity tapping amongst cryptocurrency miners. For that reason, the company wants to charge a special tariff for cryptocurrency mining, with a proposal already sent to the Energy Commission (EC) for approval.

TNB chairman and CEO Baharin Din said that illegal electricity tapping for the purpose of crypto mining was first discovered in 2018 with 610 cases. However, that number had quickly grown to 3090 cases in 2021, with 528 people arrested and RM54 million worth of equipment and items seized.

tnb macc bitcoin mining rigs electrical tapping electricity theft
Baharin Din (right) with Energy Commission CEO Abdul Razib Dawood (left) and MACC chief Azam Baki showing equipment seized from illegal bitcoin mining operators [Photo: FreeMalaysiaToday]

More recently through Ops Power, authorities managed to cripple 998 Bitcoin mining premises belonging to a syndicate that ran its operations by regularly bribing TNB technicians and has caused estimated losses of RM2.3 billion since 2018. Furthermore, the Malaysian Anti-Corruption Commission (MACC) has also frozen 126 accounts with a total value of up to RM4.47 million and seized 1157 mining machines worth RM2.3 million in the nationwide joint operation.

ADVERTISEMENT

While cryptocurrency is not legal tender in Malaysia, electrical tapping seems to be the only criminal element of mining operations although it posed risks for nearby residents as the machines were susceptible to catching on fire or causing a power outage. Last month, TNB Distribution Network head Wan Nazmy Wan Mahmood said that crypto mining itself isn’t actually illegal and interested individuals and companies can submit an application to TNB as their operation will be categorised under the commercial category.

(Source: NST [1][2], FreeMalaysiaToday.)

Tags: BitcoincryptocurrencyminingTNB
Updated 2:16 pm, Wed, 2 March 22
Back to top
Share124Tweet78SendShare

ADVERTISEMENT

RELATED ARTICLES

ftx stocks stock exchange service feature
Cryptocurrency

Cryptocurrency Exchange FTX Debuts Commission-Free Stock Trading

by Heirul Kamel
May 22, 2022

Cryptocurrency exchange FTX US has recently announced that it will soon allow for traditional stock trading alongside its crypto-based offerings....

Read more
Fake Pixelmon site
Security

Malware Lurks In Fake Pixelmon NFT Site

by Ian Chee
May 19, 2022

NFTs are not exactly something that is popular with gamers. This is especially when publishers push them onto gamers for...

Read more
spotify nft
Cryptocurrency

Spotify Testing NFT Listings For Artists

by Ikmal Rozlan
May 17, 2022

Spotify is apparently experimenting with adding non-fungible tokens (NFT) onto its platform for the benefit of artists. According to Music...

Read more
Bitcoin crypto mining
Cryptocurrency

Bitcoin Loses More Than RM40000 In Value In Less Than A Month

by John Law
May 13, 2022

Bitcoin's value dropped to its lowest point this month, with more than RM40000 of its value being wiped out in...

Read more
Load More
No Result
View All Result

TRENDING TODAY

  1. 1
    Photography

    Huawei and Leica Partnership Is Officially Over

  2. 2
    Transportation

    Proposals For New Klang Valley Highways Approved To Reduce Congestion

  3. 3
    Travel

    Thai AirAsia X Files For Bankruptcy Protection

  4. 4
    Gaming

    Diablo Immortal Gets Delayed In Asia Pacific To 23 June

  5. 5
    Transportation

    MRT Putrajaya Line Phase 1 To Launch On 16 June

Lowyat.NET

Consumer Tech News & Reviews Malaysia

NETWORK

  • Hype
  • Murai
  • Lipstiq
  • Diva
  • Varnam
  • Moviedash
  • Autofreaks

ABOUT

  • Advertise
  • Careers
  • Privacy Statement
  • Contact Us
  • Editorial Policy
  • Terms & Conditions

©2022 LOWYAT MEDIA, LLC. ALL RIGHTS RESERVED.

No Result
View All Result
  • News
    • Lifestyle
    • Computing
    • Hardware
    • Internet
    • Rumours & Leaks
    • Software
  • Forums
    • Kopitiam
    • Tradezone
    • Property Talk
    • Finance & Business
    • Fast and Furious
  • Gaming
    • PC Gaming
    • Console
    • Esports
  • Mobile
    • Apps
    • OS
    • Tablets
    • Phones
    • Telco
      • Celcom
      • DiGi
      • Maxis
      • Tune Talk
      • U Mobile
      • Buzzme
  • Pricelists
    • Hardware
      • Compu-zone
      • Viewnet
      • Thundermatch
      • Sri Computers
    • Notebooks
      • Compu-zone
    • Smartphones
      • Thundermatch
  • More
    • Automotive Tech
    • Drone
    • Enterprise
    • Entertainment
    • Fashion
    • E-Hailing
    • Wearables

©2022 LOWYAT MEDIA, LLC. ALL RIGHTS RESERVED.

We use cookies to improve your experience. Learn More.