Thai Authorities Raid Bitcoin Mining Farm Over Multi-Million Baht Electricity Theft

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As a researcher, I am currently involved in an initiative aimed at tackling illicit mining activities that have been disrupting the power supply significantly in Bangkok and adjacent regions of Thailand.

Recently, the Provincial Electricity Authority (PEA) in the kingdom declared that they have closed an illicit Bitcoin mining facility operating without proper registration, found in the Phanat Nikhom district of Chonburi.

In my current work, I’ve been part of an operation where an energy company collaborated with the Crime Suppressing Unit to conduct a raid on a mining facility under suspicion of manipulating its electricity meter to support cryptocurrency mining activities.

Based on community updates, officials from the PEA and CSD seized approximately 996 Bitcoin mining devices and related apparatus. A spokesperson for the task force stated that these cryptocurrency mining activities were allegedly using illegally obtained electricity valued at hundreds of millions of Thai Baht.

As a crypto investor, I’ve noticed some dubious crypto-mining activities going on, and it seems that the identity of those behind these operations remains unknown. However, assuringly, the Central Securities Depository (CSD) is taking proactive steps to address this issue. They are preparing arrest warrants from the local court, demonstrating their commitment to maintaining integrity within our digital investment ecosystem.

Illegal Crypto Mining Remains A Problem For Thai Authorities

Mining cryptocurrency involves intricate technological procedures and the use of sophisticated hardware and machinery. Given the substantial energy consumption and expensive equipment needed, it’s no wonder some organizations resort to illicit crypto-mining activities.

In Thailand, a number of cryptocurrency mining facilities have been established, some of which have been clandestinely manipulating the nation’s power grid.

In the month of November 2024, Thai officials conducted raids and shut down a minimum of nine unlawful cryptocurrency mining facilities. Two individuals were accused of illegally appropriating approximately $280,000 in electrical resources.

Last year, in 2022, the Department of Special Investigation in Bangkok conducted searches aimed at uncovering more than 50 illicit cryptocurrency mining activities.

Chonburi Mining Operator Illegally Tapped Into Local Electricity Supply

Based on community updates, it appears that a yet-unknown worker from the mining company anonymously informed authorities about a potential instance of power theft at the site. The authorities stated that during daytime, the facility operated its electricity meter normally to keep things appearing regular, but they allegedly resorted to illegally tapping power sources by night.

Major General Montree Theskhan from the Crime Suppression Division stated that the company’s main activity was digital asset trading. Yet, they additionally ran cryptocurrency mining operations which unlawfully utilized the nation’s electricity during the night.

As a crypto investor, I discovered during our investigations that solar panels had been installed at the facility, yet they weren’t utilized to power the mining equipment. Instead, it seems like they might have served another purpose or perhaps were just an additional feature.

Illegal Crypto Mining Operations Also Reported In Other Countries

Across different regions worldwide, unlicensed Bitcoin mining operations can be found. As an illustration, a major power supplier in Malaysia reported a loss of over $100 million in their October 2024 report due to theft from these activities.

Due to the surge in unlawful cryptocurrency mining operations, various national administrations have chosen to strengthen laws and initiate crackdowns on offenders. Certain countries have even prohibited both the mining process and associated technologies in an attempt to manage the adverse consequences.

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2025-01-10 08:11