In a major crackdown on illegal electricity use, Thai authorities have confiscated nearly 1,000 Bitcoin mining machines from a facility in Phanat Nikhom, Chon Buri. The operation, led by the Crime Suppression Division (CSD) and the Provincial Electricity Authority, targeted JIT Co., a company accused of illicitly diverting power to fuel its crypto mining operations.
On January 8, officials seized 996 mining rigs, which were allegedly running on stolen electricity. The company is accused of causing losses amounting to “hundreds of millions of baht,” which translates to at least $2.88 million in damages. Police claim that the miners had tampered with power meters to secretly operate the machines overnight, while using legal electricity during the daytime to evade detection.
Despite the installation of solar panels at the site, investigators found that the panels were not connected to the mining equipment. Local news outlets have reported that while JIT Co. is linked to the crime, officials are still in the process of identifying those responsible and obtaining arrest warrants.
Bitcoin mining, a notoriously energy-intensive process, is particularly costly in Thailand. The most efficient mining setups can cost up to 620,000 baht ($17,930) to produce just one Bitcoin, a sum 825 times higher than the average monthly electricity bill for a Thai household.
This incident highlights the growing issue of illegal cryptocurrency mining across Southeast Asia. In Malaysia, for example, illegal mining operations are said to have caused the loss of $723 million in electricity between 2018 and 2023. The seized equipment in such cases is often destroyed to prevent further misuse.
In a related development, Thailand is also exploring the use of cryptocurrencies in a pilot project in Phuket aimed at attracting foreign tourists. Former Prime Minister Thaksin Shinawatra has advocated for the government to fully embrace cryptocurrency to maintain global competitiveness.
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