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.

Partagez:

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.

The French National Assembly approves a specific target of 200 TWh renewable electricity production by 2030 within a legislative text extensively debated about the future national energy mix.
In 2024, US CO₂ emissions remain stable at 5.1bn tonnes, as the Trump administration prepares hydrocarbon-friendly energy policies, raising questions about the future evolution of the American market.
The early publication of France's energy decree triggers strong parliamentary reactions, as the government aims to rapidly secure investments in nuclear and other energy sectors.
Seven weeks after the major Iberian power outage, Spain identifies technical network failures, while the European Investment Bank approves major funding to strengthen the interconnection with France.
The European Union has announced a detailed schedule aiming to definitively halt Russian gas imports by the end of 2027, anticipating internal legal and commercial challenges to overcome.
Madagascar plans the imminent opening of a 105 MW thermal power plant to swiftly stabilise its electricity grid, severely affected in major urban areas, while simultaneously developing renewable energy projects.
India's Central Electricity Regulatory Commission proposes a new financial instrument enabling industrial companies to meet renewable energy targets through virtual contracts, without physical electricity delivery, thus facilitating compliance management.
Minister Marc Ferracci confirms the imminent publication of the energy programming decree, without waiting for the conclusion of parliamentary debates, including a substantial increase in Energy Efficiency Certificates.
At a conference held on June 11, Brussels reaffirmed its goal to reduce energy costs for households and businesses by relying on targeted investments and greater consumer involvement.
The European Commission held a high-level dialogue to identify administrative obstacles delaying renewable energy and energy infrastructure projects across the European Union.
Despite increased generation capacity and lower tariffs, Liberia continues to rely on electricity imports to meet growing demand, particularly during the dry season.
South Korea's new president, Lee Jae-myung, is reviewing the national energy policy, aiming to rebalance nuclear regulations without immediately shutting down reactors currently in operation.
The French Energy Regulatory Commission released its 2024 annual report, highlighting sustained activity on grid infrastructure, pricing, and evolving European regulatory frameworks.
The United States is easing proposed penalties for foreign LNG tankers and vehicle carriers, sharply reducing initial costs for international operators while maintaining strategic support objectives for the American merchant marine.
While capital is flowing into clean technologies globally, Africa remains marginalised, receiving only a fraction of the expected flows, according to the International Energy Agency.
The Mexican government aims to mobilise up to $9bn in private investment by 2030, but the lack of a clear commercial framework raises doubts within the industry.
The U.S. Department of Transportation is withdrawing strict fuel economy standards adopted under Biden, citing overreach in legal authority regarding the integration of electric vehicles into regulatory calculations for automakers.
In 2024, renewable energies covered 33.9% of electricity consumption in metropolitan France, driven by increased hydropower output and solar capacity expansion.
The French Energy Regulatory Commission (CRE) has announced its strategic guidelines for 2030, focusing on the energy transition, European competitiveness and consumer needs.
Madrid paid an arbitration award to Blasket Renewable Investments after more than ten years of litigation related to the withdrawal of tax advantages for renewable energy investors.