Thai authorities recently raided an illegal Bitcoin mining operation in Ratchaburi, a town just west of Bangkok, after residents complained of frequent power outages in the area, according to a report by the South China Morning Post.
Jamnong Chanwong, the chief district security officer, explained, “We found Bitcoin mining rigs, indicating that people were using this house for mining and not paying for all the electricity they consumed.”
Authorities noticed that the house was using an unusually large amount of electricity, yet the residents weren’t covering the full cost. The initial visit to the house on Thursday was blocked by a guard, so the authorities returned the next day with a search warrant to conduct the raid.
During the raid, police and officials from the Provincial Electricity Authorities (PEA) discovered that most of the mining equipment had already been moved. The house had been rented by a company for four months, and residents started complaining of power outages about a month ago, likely when the mining operation was in full swing.
Although no arrests were made during this raid, it marks the fourth time authorities have targeted illegal Bitcoin mines in the Ratchaburi region.
Illegal Bitcoin Mines on the Rise
Bitcoin miners in Thailand are treated as manufacturers and must pay associated taxes. However, illegal mining operations have been on the rise, not just in Thailand, but across Southeast Asia.
A report from the Malay Mail last month revealed that illegal mining operations have been responsible for electricity thefts totaling $723 million between 2018 and 2023. In response, Malaysian authorities have destroyed over $1.2 million worth of Bitcoin mining rigs confiscated from illegal operations.
Thailand has been working to implement crypto regulations that protect investors while encouraging innovation. The Thailand Securities and Exchange Commission now allows retail investors to purchase digital assets backed by real estate or infrastructure projects. However, the increasing number of illegal mining cases in Thailand suggests a need for stricter law enforcement.
Source: https://cryptoslate.com/thailand-authorities-raid-illegal-mining-operation-west-of-bangkok/
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