Thai Authorities Seize 63 Illegal Crypto Mining Rigs, Prevent $330,000 Loss
1min read Thai authorities have taken a significant step in combating illegal cryptocurrency mining operations by seizing 63 mining rigs valued at approximately $60,000. The operation, conducted by officials from the Central Investigation Bureau (CIB), was a response to complaints from local residents about electricity theft. The mining rigs were discovered in three abandoned houses in the Pathum Thani province, where they were remotely controlled and operated without human supervision.
The illegal mining operations were found to be causing substantial financial losses to the Metropolitan Electricity Authority, estimated to be over 11 million baht. The authorities also confiscated various equipment used in the mining operations, including controllers, routers, internet signal boosters, modified electricity meters, and computers. Notably, no arrests were made as the operations were controlled remotely, but evidence suggested ties to a luxury residence in Bangkok’s Khan Na Yao district.
The seizure highlights the growing problem of illegal cryptocurrency mining in Thailand, which has been a persistent issue for several years. Previous raids have uncovered numerous illegal mining farms, with significant amounts of electricity being stolen. For instance, in January, authorities seized 996 illegal Bitcoin mining rigs from the Phanat Nikhom district, and in November 2024, nine illegal mining farms were shut down in the Surat Thani province, estimated to have stolen electricity worth nearly $300,000.
The illegal mining operations not only result in financial losses for the electricity authorities but also pose significant safety risks. The high power consumption without proper monitoring increases the risk of fires and other hazards. The authorities have emphasized the need for stricter regulations and enforcement to curb these illegal activities, which are detrimental to both the economy and public safety.
The seizure of these mining rigs underscores the challenges faced by authorities in regulating the cryptocurrency industry. While Bitcoin miners are treated as manufacturers and subject to associated taxes, the decentralized nature of cryptocurrency mining makes it difficult to monitor and control illegal operations. The authorities' efforts to seize these rigs and investigate the individuals behind the operations are a step towards addressing this issue, but ongoing vigilance and stricter enforcement will be crucial in preventing future incidents.
