Ethereum Classic (etc) 
Thai Authorities Shut Down Bitcoin Mining Farm for Electricity Theft
Thailand’s Provincial Electricity Authority (PEA) has taken down a Bitcoin mining farm after discovering that the operators had tampered with their electricity meters to use millions of baht’s worth of electricity for free.
Millions of Baht in Losses for Thai State Electricity Provider
According to local media, the PEA, in collaboration with the Crime Suppression Division (CSD), seized 996 Bitcoin mining rigs during a raid on the mining farm located in the Phanat Nikhom district of Chonburi. The authorities found that the operators had manipulated their electricity meters to use electricity for mining operations largely free of charge, resulting in significant losses for the Thai state electricity provider.
The operation was planned to avoid detection, with the theft occurring only at night and the power meter functioning normally during the day. An unnamed staff member testified about the clever timing of the theft.
Bitcoin Mining: An Energy-Intensive Activity
Bitcoin mining is a complex process that uses high-powered computers to solve mathematical problems, verify transactions, and create new Bitcoins. This energy-intensive activity makes electricity the largest operational cost, leading some operators to resort to illegal methods to stretch their profit margins.
A Recurring Issue in Thailand
Thailand’s power grid has been persistently abused by illegal miners, with several raids conducted over the past year. This surge in illegal mining activities followed China’s crackdown on the sector in 2021, which led to a mining boom in Thailand.
Recent Incidents of Electricity Theft
Similar incidents of electricity theft have been reported in other parts of Thailand. In August 2024, the PEA took down a similar operation in Ratchaburi, a town west of Bangkok, after unregistered miners were found to be draining power from the local electricity grid. More recently, two individuals from the Surat Thani province were charged with stealing over $280,000 in electricity to power their mining rigs in an abandoned property.
Global Reckoning for Crypto-Mining Industry
These incidents have sparked a global reckoning, with governments tightening regulations, limiting electricity use, hiking tariffs, and even imposing outright bans to exert greater control over the crypto-mining industry. Similar activities have been uncovered across other parts of the globe, including Malaysia, where the national electricity provider reported losses upwards of $100 million stemming from electricity theft to run Bitcoin mining hardware.
Stay up-to-date with the latest news on Global Crypto News.
