Thai police uncover illegal Bitcoin mining, costing 500 million baht
In Samut Sakhon, an extensive illegal Bitcoin mining operation was uncovered by Thai police yesterday, January 31, resulting in significant financial losses due to unauthorised electricity usage over a three-year period.
The operation, which led to over 500 million baht in losses, was discovered during a raid conducted by the Department of Special Investigation (DSI) following abnormal power consumption reports from the Provincial Electricity Authority.
The investigation revealed a total of 1,788 crypto-mining machines distributed across three warehouses. Specifically, 396 machines were located in Nadi subdistrict, 462 in Baan Koh subdistrict, and 930 in Tha Sai subdistrict. Despite the successful operation, no suspects were apprehended during the raid.
Officials highlighted the magnitude of this seizure, describing it as the largest of its kind, and emphasised the threat such illegal mining poses to national energy stability. The DSI committed to pursuing legal action against those involved and plans to broaden the investigation further. Public cooperation is encouraged for reporting any suspicious activities, and any government officials found to be complicit will face legal consequences, reported The Pattaya News.
Illegal Bitcoin mining has become a rising issue in Thailand, driven by the increasing value of cryptocurrency and cheap electricity in certain areas. While cryptocurrency trading is legal under Thai regulations, unauthorised mining operations pose significant legal, economic, and environmental concerns.
Many illegal miners bypass meters or tap directly into power grids to avoid high electricity costs, leading to blackouts and financial losses for power companies. Mining rigs require large amounts of electricity and generate excessive heat, increasing the risk of electrical fires, especially in overcrowded or poorly ventilated spaces.
Thai police regulate cryptocurrency activities, but illegal miners often set up secret operations in abandoned buildings, rental properties, or even factories without proper licencing.
Early last month, a joint operation by the Crime Suppression Division (CSD) and the Provincial Electricity Authority exposed a bitcoin mining setup in Chon Buri’s Phanat Nikhom district that had been tampering with its power meter to steal electricity worth hundreds of millions of baht.
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