- Authorities uncovered a massive Bitcoin mining scheme in Thailand, seizing nearly 1,000 machines.
- The operation strained Thailand’s power grid, echoing global concerns over crypto mining’s energy impact.
A cryptocurrency mining facility specializing in Bitcoin (BTC) located in Chonburi, Thailand, has been closed down following the discovery of a significant power theft operation by authorities. Over 1,000 mining devices were confiscated during the raid, underscoring the vastness of the illegal activities that had been taking place.
The procedure was drawing an immense amount of electricity, sparking worries about the potential overload of Thailand’s electrical system and the potential consequences for its expanding cryptocurrency infrastructure.
Thailand: Authorities uncover high-scale electricity theft scheme
As an analyst, I’ve recently discovered that the Crime Suppression Division (CSD) and the Provincial Electricity Authority (PEA) have unearthed an illegal Bitcoin mining operation within the province of Chonburi. This clandestine activity was found to be in breach of both cryptocurrency regulations and electricity usage guidelines.
Officials conducted a search at the Phanat Nikhom location following the discovery of proof suggesting the site was illegally manipulating its electric meter to pilfer electricity.
It seems that the theft was mostly carried out under cover of darkness to evade notice, yet the power meter operated as usual during the day. This cunning tactic enabled the operation to mine Bitcoin with minimal additional electricity expenses.
Officers alleged that individuals were illegally using vast quantities of electricity to run their equipment, an activity that was eventually exposed by a squad headed by Police Major General Montree Theskhan, who is in charge of the CSD.
Multi-million dollar operation strains Thailand’s energy grid
Employee reveals nighttime theft, operators still unidentified
At the workplace, an individual confessed that electricity was being illegally taken during nights, manipulating a faulty electric meter to conceal the energy usage. Yet, it’s still unknown who is behind this operation or who is responsible for organizing this scheme.
The Control and Security Division (CSD) has revealed intentions to obtain search warrants, with the aim of identifying and apprehending those responsible for unlawful cryptocurrency mining operations. This occurrence emphasizes the growing importance of enforcing tight regulations and vigilance in overseeing cryptocurrency mining within Thailand.
Mining operations shut down in other countries
The shutdown in Thailand is part of a global trend, where debates and disputes surrounding cryptocurrency mining are common around the world.
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2025-01-11 11:05