Thailand's Regional Electricity Authority has shut down a Bitcoin mining farm for tampering with power meters to steal hundreds of millions of baht worth of electricity.

According to local media, the Anti-Corruption Agency, in cooperation with the Crime Suppression Department, did this He took over 996 Bitcoin mining rig during a raid on the mining farm located in the Phanat Nikhom district of Chonburi.

Authorities discovered that the farm operators had tampered with their electricity meters to use electricity for mining operations largely for free, resulting in millions of baht losses to the Thai state electricity company.

Those responsible for running the operation have not yet been identified, and the Department of Sustainable Development is currently obtaining arrest warrants from the court.

The operation was planned in a way that did not arouse suspicion. An unnamed employee testified that the theft was cleverly timed to occur only at night, with the power meter operating as normal during the day to avoid detection.

Bitcoin mining is a complex process that uses high-powered computers to solve mathematical problems, verify transactions, and create new bitcoins. This energy-intensive activity makes electricity the largest operational cost, prompting some operators to resort to illegal methods to expand their profit margins.

Recurring issue

Thailand's electricity grid is subject to constant abuse by illegal miners, with several raids being carried out over the past year after the country witnessed a mining boom following China's crackdown on the sector in 2021.

PEA, in August 2024, Get down A similar operation was carried out in Ratchaburi, a town west of Bangkok, after unregistered miners were found to be draining power from the local electricity grid, leading to frequent power outages in the area and high costs for residents.

Recently, two people were arrested from Surat Thani province Charged stole over $280,000 worth of electricity to power their mining rigs on an abandoned property.

Meanwhile, in 2022, the Special Investigations Department in Bangkok He drove A series of raids, dismantling more than 50 cryptocurrency mining operations that were causing annual losses of more than $10 million in stolen electricity.

Similar activities have been detected in other parts of the world. Ditto I mentioned By crypto.news Malaysia's national electricity provider, in an October 2024 report, revealed losses of more than $100 million resulting from the theft of electricity to power Bitcoin mining hardware.

These events have sparked a global reckoning, with governments tightening regulations, limiting electricity use, increasing tariffs, and even imposing... Explicit ban To exercise greater control over the cryptocurrency mining industry.