Cryptocurrency Q&A
How much electricity has Malaysia lost from cryptocurrency mining?
How much electricity has Malaysia lost from cryptocurrency mining?
Skywalker
Wed Aug 28 2024
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6 answers
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I'm curious to know, has Malaysia experienced any significant loss of electricity due to the rise of cryptocurrency mining? If so, could you provide some figures or estimates on the amount of electricity that has been consumed by these mining operations, and how it compares to the country's overall energy usage? It's important to understand the impact of this emerging industry on Malaysia's energy resources and infrastructure.
6 answers
ShintoSanctuary
Fri Aug 30 2024
Cryptocurrency mining has been a controversial topic in Malaysia, with the country's Deputy Minister for Energy and Water, Akmal Nasrullah Mohd Nasir, revealing a shocking statistic.
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Tommaso
Fri Aug 30 2024
The Malaysian government is likely to take action to address this issue, as the loss of such a significant amount of electricity is not only financially costly but also environmentally damaging.
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Lorenzo
Fri Aug 30 2024
According to the Deputy Minister, illegal cryptocurrency mining operations in Malaysia have consumed an estimated $723 million worth of electricity between 2018 and 2023.
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Andrea
Fri Aug 30 2024
This staggering revelation highlights the significant impact that cryptocurrency mining can have on a country's energy resources and underscores the need for stricter regulations and enforcement.
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BenjaminMoore
Fri Aug 30 2024
The illegal mining operations are likely using vast amounts of energy to power the high-powered computers required for the mining process, leading to a significant drain on the country's electricity grid.
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