The potential of the cryptocurrency mining market in Malaysia is huge, but electricity theft and unclear policies pose development obstacles.

2025-06-09 12:22:33

The industry report released by the Malaysian Blockchain Association shows that rampant electricity theft by illegal miners, inconsistent policies, and a lack of legal clarity hinder Malaysia’s potential economic opportunities for crypto mining.

The report predicts that driven by its strategic location, a growing technology ecosystem, and expertise in Sharia-compliant financial practices, Malaysia’s crypto mining market will grow by 110.2% by 2025, increasing from $2.44 billion to $5.13 billion. However, the report notes that Malaysia must address some internal factors to sustain this growth.

Malaysian multinational power company National Energy Berhad (TNB), which lost 441.6 million Malaysian ringgit ($104.2 million) to electricity theft between 2020 and September 2024, blames the loss mainly on illegal bitcoin mining. Previously, the company lost as much as 2.3 billion ringgit (about $542 million) from 2018 to 2021.

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