Authorities seize 63 illegal crypto mining machines in Thailand
Officials from Thailand’s Central Investigation Bureau (CIB) confiscated 63 illegal crypto mining machines valued at around 2 million baht ($60,000) from three abandoned houses in Pathum Thani province.
Complaints lead to a raid
Locals in the area raised concerns about unidentified individuals stealing electricity from utility poles and transformers. Suspecting cryptocurrency mining activities, officials conducted a raid to uncover the illegal operations.
Massive electricity consumption
Crypto mining requires significant amounts of electricity, leading to losses of over 11 million baht (over $327 million) for the Metropolitan Electricity Authority due to the illicit mining rigs.
Remote-controlled operations
Authorities seized not only the mining rigs but also three crypto mining controllers, routers, internet signal boosters, modified electricity meters, computers, and bank passbooks. Despite no arrests being made, evidence points to a luxury house in Bangkok’s Khan Na Yao district as the base for the illegal mining operations.
Fire hazards and tax implications
Aside from financial losses, the illegal mining rigs posed fire hazards due to the high power consumption without human monitoring. In Thailand, Bitcoin miners are considered manufacturers and are subject to taxes, but illegal mining remains a prevalent issue in the country.
History of illegal mining in Thailand
Illegal crypto mining operations have been a recurring problem in Thailand and Southeast Asia. Previous raids in different provinces uncovered hundreds of illegal Bitcoin mining rigs, highlighting the ongoing battle against unauthorized cryptocurrency activities.
