ChainCatcher news, the director of the Criminal Investigation Department of Bukit Aman, Su Haizir, stated that since 2020, Tenaga Nasional Berhad (TNB) has lost over 440 million ringgit (approximately 101 million USD) due to electricity theft, with losses amounting to 103 million ringgit so far this year. Illegal Bitcoin mining is the main culprit behind most of the cases. (thestar)

ChainCatcher news, according to Cointelegraph, the mayor of Hadeland, Kjell-Børge Freiberg, stated that the noise from the Bitcoin mining center disturbed many residents, and the mining facility was closed during the week of September 9.However, Dennis Porter, co-founder of the Satoshi Action Fund, pointed out that the decline in electricity demand in the area after the ban led to other users having to bear higher electricity costs to compensate for the revenue loss caused by the exit of Bitcoin mining businesses.

ChainCatcher message, the National Electricity Administration of Paraguay (ANDE) recently discovered and seized an illegal Bitcoin mining operation with 693 miners. ANDE confirmed its illegal act of stealing electricity, which is classified as a criminal offense under Law No. 7300/24, with a maximum penalty of 10 years in prison.

ChainCatcher news, according to Bitcoin.com, the National Electricity Administration of Paraguay (ANDE) recently discovered and seized an illegal Bitcoin mining operation with 693 miners. ANDE inspectors found a tampered electricity meter that failed to record all the electrical energy consumed by the devices connected to the grid. The detection was carried out using the SCADA system.

ChainCatcher news, according to Decrypt, Malaysian officials crushed 985 Bitcoin mining devices on Monday as part of a nationwide crackdown on electricity theft related to cryptocurrency miners.Videos circulating show a heavy roller slowly rolling over the mining equipment in an attempt to crush it. This operation destroyed equipment worth approximately $450,000.Malaysian officials are working to combat electricity theft, which is why the seized mining devices were destroyed.

ChainCatcher news, according to a report from Bernama on Saturday, last week, three local residents and four foreigners were arrested and detained for allegedly providing electricity for Bitcoin mining operations through electricity theft.The report stated that the police chief of Sepang, ACP Wan Kamarul Azran Wan Yusof, indicated that these individuals had no prior criminal records, and the authorities' aim is to "investigate illegal Bitcoin mining activities involving electricity theft."Local police added that they seized 52 Bitcoin mining devices and other electronic equipment, with a total estimated value of 250,000 Malaysian Ringgit (RM), equivalent to 57,000 USD.

ChainCatcher news, according to Bitcoin.com, the International Monetary Fund (IMF) published a blog post this week written by Shafik Hebous, Deputy Director of the IMF's Fiscal Affairs Department, and another economist, Nate Vernon-Lin.The authors emphasized the environmental challenges posed by cryptocurrency mining and artificial intelligence data centers, noting that these sectors already account for 2% of global electricity consumption. They added, "According to our estimates based on projections from the International Energy Agency (IEA), this share could rise to 3.5% within three years."The report warns that this increasing energy use could lead to cryptocurrency mining contributing 0.7% of global carbon emissions by 2027, and emphasizes, "Expanding the analysis to data centers (according to IEA estimates) means that by 2027, carbon emissions from these sectors could reach 450 million tons, accounting for 1.2% of the global total."To address this issue, Hebous and Vernon-Lin proposed a targeted electricity tax, stating, "A tax system is a way to guide businesses to reduce emissions. According to IMF estimates, a direct tax of $0.047 per kilowatt-hour would encourage the cryptocurrency mining industry to curb its emissions in line with global targets."However, critics argue that these taxes could severely hinder the development of the cryptocurrency industry. Additionally, some studies have shown that the environmental impact of cryptocurrency mining remains relatively small compared to other major industries such as e-commerce or traditional finance.

ChainCatcher news, according to Cointelegraph, the Deputy Director of the International Monetary Fund (IMF) Fiscal Affairs Department, Shafik Hebous, and economist Nate Vernon-Lin from the Climate Policy Department stated that a tax of 0.047 yuan per kilowatt-hour "will drive the cryptocurrency mining industry to curb its emissions in line with global goals." If the impact of miners on local health is taken into account, the tax will rise to 0.089 dollars per kilowatt-hour. Increasing taxes will raise the average electricity price for crypto miners by 85%, generate an additional 5.2 billion dollars in global government revenue annually, and reduce emissions by 100 million tons per year, equivalent to Belgium's emissions.They claimed that the electricity consumed by a single Bitcoin transaction is roughly equivalent to the average electricity usage of a Pakistani person over three years, while the energy required for the AI model ChatGPT is ten times that of a Google search. The two also proposed a 0.032 dollars per kilowatt-hour energy usage tax on AI data centers, which would rise to 0.052 dollars when accounting for pollution costs, as "these data centers are often located in areas with greener electricity." IMF officials stated that this tax could generate 18 billion dollars in revenue for the government each year.

ChainCatcher news, Trump stated during his speech at the Bitcoin 2024 conference that after being elected president, he will make the United States the country with the lowest energy and electricity costs, and the U.S. will become the undisputed powerhouse in Bitcoin mining, with Bitcoin and cryptocurrencies driving economic growth in the United States.

ChainCatcher news, Russian President Putin stated that cryptocurrency mining accounts for 1.5% of Russia's electricity consumption.

ChainCatcher news, according to News.bitcoin, the Paraguayan Senate has passed a series of reforms that change the penalties for energy theft related to cryptocurrency mining. Now, individuals and companies found stealing energy for cryptocurrency mining activities will face up to 10 years in prison, while energy theft for other purposes will face a maximum penalty of 3 years.

ChainCatcher news, according to Protos, the Deputy Minister of Energy Transition and Water Resources of Malaysia stated that from 2018 to 2023, illegal cryptocurrency miners in Malaysia stole electricity worth $722 million.According to the Malay Mail, Akmal Nasrullah Mohd Nasir revealed this figure during an event involving the handling of 2,022 seized items, including Bitcoin mining equipment.Akmal Nasrullah stated, "Cryptocurrency miners steal electricity because their locations do not have meters, making this behavior undetectable. However, energy supply companies have various methods to detect abnormal energy consumption in an area."In addition, he claimed that preventing cryptocurrency miners from stealing electricity is a top priority for the Malaysian government.

ChainCatcher news, according to Bitcoin.com, the National Electricity Administration of Paraguay (ANDE) has recently raised electricity prices, prompting Bitcoin mining companies to seek alternatives in neighboring countries such as Argentina and Brazil.A joint venture between companies in Argentina and Brazil recently announced an 8-megawatt plan aimed at generating 200 megawatts of power by 2026. Fernando Arriola, president of the Paraguayan Fintech Chamber, announced that several companies have signed documents to move their operations to Argentina.

ChainCatcher news, according to Bitcoin.com, Paraguayan Senator Salyn Buzarquis has severely criticized the National Electricity Administration of Paraguay (ANDE), claiming that its senior officials accept bribes to allow illegal Bitcoin mining operations to run unchecked. Salyn Buzarquis stated that these unnamed officials receive bribes of up to $500,000 per month and called for ANDE President Felix Sosa to resign or be questioned about the matter.ANDE issued a statement denying these allegations and emphasized that the country's companies have been harmed in their efforts to combat energy theft. The statement claimed: "This agency is characterized by its proactive stance against such punishable behaviors (especially illegal mining operations for cryptocurrency)."

ChainCatcher news, according to Bitcoin.com, the National Electricity Administration of Paraguay (ANDE) has announced an increase in electricity prices for Bitcoin and cryptocurrency mining operations in the country. ANDE has raised the electricity prices for cryptocurrency mining, blockchain, tokens, and data centers by 14%, which may affect the feasibility of maintaining these activities in the country.Due to the lack of clarity in this field, this price increase has already led to the withdrawal of a company that planned to invest over $400 million in the country.

ChainCatcher news, according to Bitcoin.com, the National Electricity Administration of Paraguay (ANDE) has increased electricity rates for cryptocurrency mining operators by 14%, impacting the profitability of cryptocurrency mining operators. Due to the lack of transparency in the region, this price increase has already led to the withdrawal of a company that planned to invest over $400 million in the country.

ChainCatcher news, according to Bitcoin.com, employees of the National Electricity Administration of Paraguay (ANDE) have been accused of directly participating in the establishment of illegal Bitcoin mining farms in Paraguay. Seven engineers employed by ANDE will be involved in organizing illegal connections to provide electricity for Bitcoin operations in Paraguay.ANDE's director, Felix Sosa, clarified that the agency's internal audit department is conducting a verification and organizational investigation of the organization. All relevant information will be submitted to the National Prosecutor's Office for further investigation. However, Sosa stated that employees of the national electricity company have not been responsible for executing electrical connections for some time and have delegated this function to third-party contractors.Since December of last year, ANDE has been fighting against illegal Bitcoin mining connections and has cut off power to more than 70 mining farms that were drawing unmetered electricity directly from the grid.

ChainCatcher news, JPMorgan (JPM) stated in a research report on Wednesday that the power demands of hyperscale enterprises and artificial intelligence (AI) companies may make Bitcoin mining companies potential acquisition targets.JPMorgan noted that the deal between CoreWeave and Core Scientific confirms this. The report mentioned that merger and acquisition activity in the mining sector is heating up post-halving. Cloud computing company CoreWeave signed a 200 megawatt (MW) AI agreement with the Bitcoin miner, and it was reported that the company also proposed a full cash acquisition of the firm, after which Core Scientific (CORZ) shares surged.Meanwhile, another large Bitcoin miner, Riot Platforms (RIOT), made a bid to acquire its peer Bitfarms (BITF) last month. The bank estimates that U.S.-listed Bitcoin mining companies consume up to 5 megawatts of power and can access an additional 2.5 megawatts, "making them potentially attractive targets."

ChainCatcher news, the Venezuelan government claims that they plan to cut off all Bitcoin mining farms from the national electricity system (SEN) due to their high electricity consumption, which has led to frequent power outages in surrounding areas.The Ministry of Electric Energy stated that this action will prevent power supply interruptions and ensure reliable service for all Venezuelans.