popular articles

Thailand: Nine Illegal Bitcoin Mining Farms Shut Down for Massive Electricity Theft

Thai authorities have dismantled nine illegal Bitcoin mining farms accused of stealing over €270,000 worth of electricity. Two suspects have been arrested for large-scale energy fraud.

Please share:

Thai authorities have put an end to the activities of nine clandestine Bitcoin mining farms, a process requiring significant electricity resources. These illegal operations have caused losses estimated at over 10 million baht (approximately €271,345) for local electricity providers, according to the police.

The case began with a report from a resident of the Surat Thani province in southern Thailand, who noticed surveillance cameras installed around an unoccupied house. The Central Investigation Bureau (CIB), in partnership with the Provincial Electricity Authority (PEA), conducted a search of the premises. They discovered equipment intended for cryptocurrency mining, including high-performance computing machines.

An Organized Illegal Network

Following this discovery, eight other similar sites were identified and searched. Investigations revealed that the farm operators had tampered with electricity meters to bypass costs and obtain the electricity needed for their activities without payment.

Two individuals, both 30 years old, were arrested and face charges of electricity theft and illegal operation of mining equipment. Under Thai law, while Bitcoin mining is legal, it is strictly regulated by fiscal and technical policies. The suspects face severe legal consequences, including substantial fines and potential imprisonment.

A Massive Energy Consumption

Bitcoin mining relies on a complex process that requires significant computing power. Miners validate blocks of data containing recent transactions in exchange for a reward in newly created Bitcoin. This process, known as “proof of work,” is highly energy-intensive.

Thailand, where electricity costs are relatively low, has become a favored destination for cryptocurrency miners. However, this activity, legal under certain conditions, increasingly attracts clandestine networks seeking to evade taxes and regulations.

A Global Trend

These dismantlings come as Bitcoin reaches historic highs, with its price nearing $90,000. This record is linked to geopolitical factors, including the recent reelection of Donald Trump in the United States, which has heightened investor interest in digital assets.

Bitcoin, created by an anonymous individual or group under the pseudonym Satoshi Nakamoto, is programmed to reach a fixed limit of 21 million units by 2140. This programmed scarcity, coupled with growing interest in cryptocurrencies, continues to drive the activities of both legal and illegal miners.

Register free of charge for uninterrupted access.

Publicite

Recently published in

At COP29 in Baku, the United Kingdom unveiled an ambitious plan to cut greenhouse gas emissions by 81% by 2035, asserting its leading role in global climate diplomacy.
The French government proposes a "rendezvous clause" to adjust the electricity tax increase, ensuring a 9% decrease in regulated electricity bills for the majority of households by February 2025.
The French government proposes a "rendezvous clause" to adjust the electricity tax increase, ensuring a 9% decrease in regulated electricity bills for the majority of households by February 2025.
On the eve of a possible Trump presidency, the United States seeks to reassure its partners on its climate commitment at COP29, amidst North-South tensions and a debate on financial aid for developing countries.
On the eve of a possible Trump presidency, the United States seeks to reassure its partners on its climate commitment at COP29, amidst North-South tensions and a debate on financial aid for developing countries.
Two environmental NGOs are challenging in Scottish court the authorization to drill in the Rosebank and Jackdaw oil and gas fields in the North Sea, denouncing their impact on the UK's climate objectives.
Two environmental NGOs are challenging in Scottish court the authorization to drill in the Rosebank and Jackdaw oil and gas fields in the North Sea, denouncing their impact on the UK's climate objectives.
The German energy sector urges the government to pass key reforms before the planned dissolution of parliament in January, fearing prolonged gridlock following the coalition's collapse.
The White House completes its oil purchasing program to replenish strategic reserves, marking the end of a controversial initiative aimed at strengthening energy security after massive releases in 2022.
The White House completes its oil purchasing program to replenish strategic reserves, marking the end of a controversial initiative aimed at strengthening energy security after massive releases in 2022.
As a contender to host COP31, Australia is pushing for ambitious climate commitments at COP29 in Azerbaijan, while promoting green hydrogen initiatives for Asian markets.
As a contender to host COP31, Australia is pushing for ambitious climate commitments at COP29 in Azerbaijan, while promoting green hydrogen initiatives for Asian markets.
France: uncertainties surrounding the future Nuclear Safety Authority scheduled for January
France: uncertainties surrounding the future Nuclear Safety Authority scheduled for January
China has ratified an ambitious legislation aimed at promoting carbon neutrality and framing sustainable energy development in response to growing climate challenges.
Brazil has increased its greenhouse gas reduction target from 59% to 67% by 2035 as part of its commitment to the Paris Agreement.
Brazil has increased its greenhouse gas reduction target from 59% to 67% by 2035 as part of its commitment to the Paris Agreement.
In response to a fuel shortage threatening the power plants, Iran has announced electricity rationing in Tehran and several provinces. The duration of this measure remains unknown.
In response to a fuel shortage threatening the power plants, Iran has announced electricity rationing in Tehran and several provinces. The duration of this measure remains unknown.
Voters in Washington rejected Initiative 2117, ensuring the continuation of the carbon market established in 2021. This decision could drive up carbon allowance prices.
Voters in Washington rejected Initiative 2117, ensuring the continuation of the carbon market established in 2021. This decision could drive up carbon allowance prices.
Donald Trump's election in the United States, with his open climate skepticism, could reverse American environmental commitments, jeopardizing global climate goals and increasing greenhouse gas emissions.
Just days before COP29, the International Energy Agency (IEA) sounds the alarm: progress in energy efficiency remains well below the goals set in 2023, jeopardizing the reduction of fossil fuel usage.
Just days before COP29, the International Energy Agency (IEA) sounds the alarm: progress in energy efficiency remains well below the goals set in 2023, jeopardizing the reduction of fossil fuel usage.
The recent U.S. elections could reshape energy policies, influencing global markets, trade relations, and climate commitments. The opposing candidates’ positions, between protecting fossil industries and promoting clean energy, outline divergent prospects.
The recent U.S. elections could reshape energy policies, influencing global markets, trade relations, and climate commitments. The opposing candidates’ positions, between protecting fossil industries and promoting clean energy, outline divergent prospects.
A new report from the International Energy Agency reveals that Namibia could boost its socioeconomic development by capitalizing on its renewable resources, provided effective support policies are implemented.
A new report from the International Energy Agency reveals that Namibia could boost its socioeconomic development by capitalizing on its renewable resources, provided effective support policies are implemented.
Amid concerns over potential job cuts, approximately 10% of GRDF employees mobilized in response to a call from the CGT, denouncing a plan to reduce payroll, affecting thousands of jobs.
The French operator RTE is investing nearly one billion euros to acquire 5,000 km of underground cables from five European cable suppliers to modernize and strengthen its high-voltage electricity network.
The French operator RTE is investing nearly one billion euros to acquire 5,000 km of underground cables from five European cable suppliers to modernize and strengthen its high-voltage electricity network.
The German government, in agreement with Paris, has expressed openness to a revision of European sanctions targeting automakers in 2025, aiming to support an industry struggling with Chinese competition and high energy costs.
The German government, in agreement with Paris, has expressed openness to a revision of European sanctions targeting automakers in 2025, aiming to support an industry struggling with Chinese competition and high energy costs.
The Indian group Adani has halved the electricity supplied to Bangladesh due to $850 million in unpaid bills. This reduction in energy flow places the country in a position where it must quickly address a shortfall.
The Indian group Adani has halved the electricity supplied to Bangladesh due to $850 million in unpaid bills. This reduction in energy flow places the country in a position where it must quickly address a shortfall.
Canada commits to a 35% reduction in emissions from its energy sector by 2030, imposing constraints on a key economic industry. This project brings both hopes and concerns among provinces and companies.
As COP29 approaches in Azerbaijan, tensions emerge as climate ambitions clash with economic realities, and vulnerable nations express growing impatience.
As COP29 approaches in Azerbaijan, tensions emerge as climate ambitions clash with economic realities, and vulnerable nations express growing impatience.
Facing a severe fuel shortage due to a lack of foreign currency, Malawi has implemented rationing measures, raising fears over food security and the stability of the agricultural and economic sectors.
Facing a severe fuel shortage due to a lack of foreign currency, Malawi has implemented rationing measures, raising fears over food security and the stability of the agricultural and economic sectors.
With the tightening of European CO2 emissions standards, car manufacturers must reduce their emissions or face massive penalties. A significant challenge that could reshape the industrial landscape in Europe.
With the tightening of European CO2 emissions standards, car manufacturers must reduce their emissions or face massive penalties. A significant challenge that could reshape the industrial landscape in Europe.

Advertising