Thailand Cracks Down on Illegal Crypto Mining Operations

In a bid to address the growing issue of power disruptions in its capital city, Bangkok, and surrounding areas, Thailand has launched a crackdown on unregistered cryptocurrency mining operations. The latest move saw the Provincial Electricity Authority (PEA) team up with the Crime Suppression Division to raid an illicit Bitcoin mining farm in the Phanat Nikhom District of Chonburi.

The Raid: A Major Blow to Crypto Mining Operations

During the raid, authorities confiscated 996 Bitcoin mining machines and related equipment, valued at hundreds of millions of baht. According to a representative of the raiding team, the crypto mining operations were suspected of tampering with the electricity meter to steal power. The individuals responsible for the operation remain unknown, but the CSD is preparing arrest warrants from the local court.

The Problem of Illegal Crypto Mining in Thailand

Crypto mining is a complex process that requires significant power and investment in advanced equipment. As a result, many groups have turned to running illegal operations, often by tampering with the country’s electrical supply. This has become a major problem for Thai authorities, with several crypto-mining operations being set up across the country. In November 2024, authorities raided and closed at least nine illegal crypto-mining operations, charging two individuals with stealing over $280,000 worth of electricity.

A History of Crackdowns

This is not the first time Thai authorities have taken action against illegal crypto mining operations. In 2022, the Department of Special Investigation carried out raids targeting over 50 such operations. The latest crackdown is part of a broader effort to regulate the industry and prevent the theft of state power.

How the Mining Operation Evaded Detection

According to local reports, an unidentified employee of the mining firm tipped off the authorities about the possible electricity theft. The facility had been using the electricity meter correctly during the day to avoid suspicion, but switching to illegal tapping at night. The company had also installed solar panels, but these were not used to power the mining rigs.

A Global Problem

Thailand is not the only country struggling with the issue of unregistered Bitcoin mining facilities. In Malaysia, the primary power provider reported over $100 million in losses due to theft in October 2024. The problem has prompted national governments to tighten regulations and launch campaigns against violators. Some have even banned mining and related technology outright to control its negative effects.

Conclusion

Thailand’s crackdown on illegal crypto mining operations is a significant step towards addressing the issue of power disruptions in the country. As the industry continues to grow, it is essential for governments to regulate and monitor crypto mining operations to prevent the theft of state power and other negative consequences. By taking action against unregistered operations, Thailand is setting an example for other countries to follow.

Source: Bitcoinist.com

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