Thai Authorities Uncover Massive Bitcoin Mining Scheme Amid Power Outages
Thai officials have uncovered a significant Bitcoin mining operation in Ratchaburi after residents reported frequent power outages.
The raid, conducted by local police and the Provincial Electricity Authority (PEA), targeted a house suspected of hosting an illegal mining setup.
The operation was draining an unusually high amount of electricity while paying insufficient bills. Authorities found extensive mining equipment and noted that the energy consumption far exceeded the property’s electricity payments.
The illegal mining operation had been running for months, causing blackouts that disrupted the local community. The raid faced obstacles, including initial entry denials and equipment removal before the warrant was executed. No arrests were made, as the suspects had likely fled.
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This is the fourth such raid in Ratchaburi this year. Thailand, a major player in cryptocurrency adoption, continues to grapple with illegal mining issues despite its growing digital asset market.
The government is also advancing digital currency initiatives like the $12.4 billion “Digital Wallet” program for low-income individuals, even though cryptocurrencies remain classified as digital assets rather than legal tender.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
