Bitcoin
Thai authorities bust Bitcoin mining farm in multi-million Baht electricity theft scandal
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- 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 Bitcoin [BTC] mining operation in Chonburi, Thailand, has been shut down after authorities uncovered a massive electricity theft scheme. Nearly 1,000 mining machines were seized in the raid, highlighting the scale of the illegal activity.
The operation was siphoning electricity at a staggering level, raising concerns about the strain on Thailand’s power grid and the broader implications of its growing crypto ecosystem.
Thailand: Authorities uncover high-scale electricity theft scheme
Thailand’s Crime Suppression Division (CSD) and the Provincial Electricity Authority (PEA) uncovered an illicit Bitcoin mining operation in Chonburi.
Authorities raided the site in Phanat Nikhom after finding evidence that the facility had tampered with its power meter to steal electricity.
The theft reportedly occurred primarily at night to avoid detection, while the power meter functioned normally during the day. This strategic misuse allowed the operation to mine Bitcoin without incurring significant electricity costs.
Authorities accused those involved of stealing large amounts of electricity to power the machines, with the operation uncovered by a team led by Pol Maj Gen Montree Theskhan, commander of the CSD.
Multi-million dollar operation strains Thailand’s energy grid
During the raid, officials seized 996 Bitcoin mining machines and related devices. While the authorities haven’t disclosed the value, such rigs typically represent millions of dollars.
With a power tariff of 4 baht per kWh in Thailand, the stolen electricity amounts to 620,000 baht. For comparison, the average household electricity bill is 750 baht.
The unauthorized power consumption put an immense strain on local resources, raising concerns about the broader implications for Thailand’s energy infrastructure as crypto-mining activities grow.
Employee reveals nighttime theft, operators still unidentified
An employee at the site admitted that electricity theft occurred exclusively at night, using a tampered power meter to hide the operation’s energy consumption. However, the company or individuals responsible for orchestrating the scheme remain unidentified.
The CSD has announced plans to seek court warrants to track down and arrest the operators behind the illegal mining activity. This incident underscores the increasing need for stringent regulations and monitoring of cryptocurrency mining in Thailand.
Mining operations shut down in other countries
The shutdown in Thailand reflects a broader pattern of cryptocurrency mining controversies worldwide.
In Iran, illegal mining operations have repeatedly strained the power grid, especially during peak seasons, leading to seasonal shutdowns. China’s 2021 crypto mining ban forced miners to relocate or shut down due to environmental and energy concerns.
In Kazakhstan, once a major mining hub, unauthorized mining contributed to severe power outages, prompting the government to implement stricter regulations.
