Argentine Law Enforcement Raids ‘Luxury Apartments’-Based BTC Mining Farm

The Argentine tax authority is targeting residential premises in its campaign against illegal cryptocurrency mining. An illicit Bitcoin (BTC) mining operation was dismantled by police in a “high-end” apartment building in a posh neighborhood of La Plata, Buenos Aires Province.

The tax agency, known locally as the AFIP, raided a farm earlier this month and discovered coin-mining equipment valued at $20 million there.

However, in the most recent seizure, police reportedly conducted a search of the residence and discovered operational, unlicensed bitcoin mining equipment that was connected to the internet. The rigs, according to the AFIP, were hidden inside a “container” that was tucked away on the complex’s terrace.

The hardware, according to the police, included 180 “video cards utilized for Bitcoin mining.” They stated that the market worth of the equipment was “greater than $45,000,000.” They added that it had taken “more than eight months” for the crypto mining equipment to be uncovered.

The owner of the complex appears to have been the brains behind the farm, as the tax authority reported that the “owner of the property” was “being probed.”

However, the AFIP discovered that the power outlets on the terrace had been registered “in the name of a third party,” according to Ambito, which was a “maneuver that helped the farm’s concealment.”

Together with the General Tax Directorate’s La Plata Regional Directorate, the raid was carried out.

Crackdown on Argentine crypto miners who are not registered

Officers claimed that they were looking into “activity” at “two other homes” to try and make a connection.

During its raids this year, the AFIP also discovered an illegal consignment of cryptocurrency mining equipment concealed inside a shipping container filled with toys for kids and cattle prods.

Additionally, they attacked a farm in the San Juan Province where miners had concealed their equipment in a space designated for cooling fruit.

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