The stealing of electricity ravaged by illegal miners, uninterrupted policies, and the absence of legal clarity deter Malaysia from benefiting from the basic economic capabilities of cryptocurrency mining, according to an industry report issued by the Access Blockchain Association in Malaysia.
Report Expected The Malaysian encryption mining market will grow by 110.2 % in 2025-from $ 2.44 billion to $ 5.13 billion-stimulating through its strategic location, the growing technology system and expertise in financing compatible with Sharia. However, the report indicates that the country must settle many internal factors to maintain continuous growth.
A parallel economy of illegal miners
The Malaysian multinational electricity company, Tenaga Nasional berhad (TNB), lost 441.6 million Malaysian ($ 104.2 million) to steal electricity between 2020 and September 2024, which the company mainly attributed to illegal bitcoin mining. Previous losses from 2018 to 2021 to 2.3 billion rouge ($ 542 million).
The report highlighted the “inherent demand” in Malaysia and the need for an organized organized environment to take advantage of the lost capital to unlicensed encryption mining:
“The formal nature of this (illegal mining) activity would transform stolen energy into legal revenues for TNB and generate a taxable income for the government.”
(Note: Values are illustrative and depend on the implementation of policy, operator’s confidence and market conditions)
The report added that Malaysia can build a fixed revenue stream of millions of dollars from encryption mining if he can on a small part of illegal operators to the established communications.
Legal miners work in the shadows
While the government had previously assumed that legal miners were rare, the report found that many medium and large legal operators are already in Malaysia. However, they avoid advertising due to fears of electronic attacks, physical theft and sudden organizational transformations.
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Companies like Hatten Land began exploring the mining infrastructure above the surface of the earth, including partnerships in Milak with players like Hydra X and FRONTIERE DIGIATATETETETENTENT. “Companies like Hatten Land has already referred to partnerships that include thousands of excavators,” the report said.
Due to its strong connection to the Internet and the abundant hydroex, Malaysia is in a good position to take advantage of the encryption mining market of approximately $ 3 billion. However, the Securities Committee, which is currently organizing the exchange of encryption, does not have a specific mining framework.
According to the report, Malaysia ranks 7 to eight in the world by Hazarat, as it contributed about 2.5 % to 3 % of bitcoin mining.
Politics recommendations include establishing a mining license, providing green tariff initiatives, and closing legal loopholes in stealing electricity and developing mining models compatible with Sharia.
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