Thai authorities seized nearly 1,000 Bitcoin mining rigs in Chon Buri province for electricity theft worth $3.2 million, uncovering tampered power meters.
Law Enforcement Takes Action in Chon Buri Province
Law enforcement in Thailand has seized nearly 1,000 Bitcoin mining rigs from a company accused of electricity theft, marking one of the largest crackdowns in the region. The operation, conducted on Jan. 8 in Chon Buri province, uncovered modified electricity meters designed to siphon power from the national grid.
Modified Meters Enabled Power Theft
According to Crime Suppression Division (CSD) Commander Montree Theskhan, the company used tampered meters to run its mining equipment without incurring electricity costs. During the early-morning raid, authorities confiscated 996 Bitcoin mining rigs, four computers, three routers, and a tampered electric meter.
Solar panels installed at the site were found to be unrelated to the mining operations. Officials from the Provincial Electricity Authority (PEA) estimated the losses at approximately $3.2 million (110 million baht), though some reports suggest the financial impact could be even greater.
This kind of theft not only costs the economy millions but also strains the electricity supply, an official stated.
Investigation Uncovers Evidence
The investigation began after the CSD identified suspicious activities at the company’s premises, which claimed to engage in cryptocurrency trading. Upon gathering evidence, officers secured a search warrant for the facility. The seized mining equipment has since been transferred to the CSD, while PEA officials have filed complaints seeking prosecution.
Government Stance on Bitcoin Mining
The Thai government has shown growing interest in cryptocurrencies and blockchain technologies but remains less supportive of Bitcoin mining. The industry is subject to strict regulations, and the Thai Revenue Department taxes mining operations under Section 40(8) of the Revenue Code, equating them to manufacturing activities.
Moving Foward
This incident highlights the increasing challenges faced by governments in regulating the cryptocurrency sector. Unauthorized mining not only damages public infrastructure but also disrupts national energy systems.
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