TechFlow news, June 9 — According to Cointelegraph, a recent report from the Blockchain Association of Malaysia reveals that the country's cryptocurrency mining market is projected to grow by 110.2% in 2025, increasing from $2.44 billion to $5.13 billion. However, rampant electricity theft and unclear regulations are hindering industry development. The National Electricity Company (TNB) incurred losses of $104.2 million due to electricity theft between 2020 and September 2024, primarily attributed to illegal Bitcoin mining operations.
The report indicates that Malaysia ranks 7th to 8th globally in Bitcoin mining, contributing approximately 2.5% to 3% of the global hash rate. However, legitimate miners avoid public operations due to concerns over cyberattacks and policy changes. Experts recommend that the government establish mining-specific licenses, introduce green tariff programs, strengthen legal oversight on electricity theft, and develop Sharia-compliant mining models to transform illegal mining into a legitimate source of tax revenue.
