Authorities in Thailand have uncovered a substantial Bitcoin [BTC] mining venture in Chonburi that was closed down following the discovery of a significant electricity theft scheme. Around 1,000 mining machines were confiscated during the operation, revealing the extent of the illicit activity.
The mining operation was illicitly drawing electricity at an alarming rate, prompting concerns about the impact on Thailand’s power infrastructure and the wider consequences for its expanding cryptocurrency sector.
Thailand’s Crackdown on Extensive Electricity Theft Scheme
Thailand’s Crime Suppression Division (CSD) and the Provincial Electricity Authority (PEA) revealed an unlawful Bitcoin mining enterprise in Chonburi.
After identifying evidence of electricity theft through meter tampering, authorities conducted a raid at the Phanat Nikhom location.
The theft predominantly took place during nocturnal hours to evade detection, while the power meter functioned normally in the daytime, enabling the mining operation to generate Bitcoin without incurring substantial electricity expenses.
Officials alleged that the culprits siphoned off significant amounts of electricity to power the machines, with the operation brought to light by a team under the supervision of Pol Maj Gen Montree Theskhan, the CSD commander.
Multi-Million-Dollar Scheme Puts Strain on Thailand’s Energy Infrastructure
Employee Exposes Nighttime Electricity Theft as Operators Remain Unidentified
A worker at the site confessed to the nighttime electricity theft using a tampered power meter to conceal the operation’s power consumption. However, the individuals or organization responsible for orchestrating the illicit activity are yet to be identified.
The CSD has indicated plans to obtain court warrants to track down and apprehend the organizers behind the unauthorized mining operation. This incident highlights the growing necessity for robust regulations and oversight of cryptocurrency mining ventures in Thailand.