![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
Cryptocurrency News Articles
Thailand Shuts Down Illegal Bitcoin Mining Farm in Chonburi, Confiscates 996 Machines
Jan 10, 2025 at 01:00 pm
Thailand is continuing its efforts to crack down on illegal Bitcoin mining operations that are causing massive power disruptions in the capital city of Bangkok and neighboring areas.
In its latest drive against these unregistered operations, the kingdom’s Provincial Electricity Authority (PEA) announced that it has shut down an illegal Bitcoin mining farm in the Phanat Nikhom District of Chonburi.
This time, the energy company worked with the Crime Suppression Division (CSD) to raid the mining facility, which was suspected of tampering with the electricity meter for crypto-mining purposes.
According to local reports, the PEA and CSD officers confiscated 996 Bitcoin mining machines and similar equipment. A representative of the raiding team said that crypto mining operations work with stolen power worth hundreds of millions of baht.
The persons responsible for the questionable crypto-mining operations are unknown, but the CSD is preparing the necessary arrest warrants from the local court.
Illegal Crypto Mining Remains A Problem For Thai Authorities
Crypto mining is a complex technical process that requires high-end computers and related equipment. Since it requires massive power and investment in advanced equipment, it isn’t surprising that many groups run illegal crypto-mining operations.
In Thailand, several crypto-mining operations have been set up, and many of these have been illegally tampering with the country’s electrical supply.
Last November 2024, Thai authorities raided and closed at least nine illegal crypto-mining operations and charged two persons with stealing over $280k in electricity.
In 2022, Bangkok’s Department of Special Investigation also carried out raids targeting over 50 illegal crypto-mining operations.
Chonburi Mining Operator Illegally Tapped Into Local Electricity Supply
According to local reports, an unidentified employee of the mining firm tipped the authorities about the possible electricity theft in the facility. Authorities said the facility used the electricity meter correctly during the day to avoid suspicions and switched to illegal tapping by night.
Police Maj. Gen. Montree Theskhan of the Crime Suppression Division said the company was registered for digital asset trading. However, it also operated crypto mining rigs that illegally used the state’s power supply at night.
The investigations also revealed that solar panels were added to the compound but were not used to power the mining rigs.
Illegal Crypto Mining Operations Also Reported In Other Countries
Unregistered Bitcoin mining facilities are also operating in various parts of the world. For example, in its October 2024 report, the Malaysian primary power provider reported over $100 million in losses due to theft.
These illegal crypto-mining activities have pushed national governments to tighten regulations and launch campaigns against violators. Some governments have banned mining and technology outright to control its negative effects.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
-
- Ripple (XRP) Introduces Its RLUSD Stablecoin to the Stablecoin Market
- Apr 03, 2025 at 04:00 pm
- Ripple introduced its RLUSD stablecoin to the stablecoin market through its launch on Kraken cryptocurrency exchange. The USD-pegged stablecoin aims to boost its cross-border payment functions and integrate with the payment platform.
-
-
- Bitcoin (BTC) Price Consolidation May Be Precursor to a Market Drop, Analyst Says
- Apr 03, 2025 at 03:55 pm
- Bitcoin has seen a notable price consolidation over the past few weeks, trading between the $84,000 and $86,000 levels. Despite the initial surge in price, the cryptocurrency has faced a decline of 3.7% in the past week and nearly 10% in the past month, signaling a period of stagnation in its upward momentum.
-
- The OFFICIAL TRUMP price plummeted over 9% in the last 24 hours to trade at $9.29
- Apr 03, 2025 at 03:55 pm
- The drop in the TRUMP price comes after US President Donald Trump signed an executive order establishing reciprocal tariffs on trading partners and a 10% baseline tariff on all imports from all countries.
-
-
-
- FDUSD, BTC, TUSD, SEI, and LINK are the top 5 virtual asset-related keywords attracting the most interest
- Apr 03, 2025 at 03:45 pm
- According to the Token Mindshare (a metric quantifying the influence of specific tokens in the virtual asset market) top gainers from the AI-based Web3 search platform Kaito
-
-