News

Thailand Busts Illegal Bitcoin Mine after Repeated Power outages

3 hours ago - Around 2 mins mins to read

Key Points:

  • Thai authorities raided a Bitcoin mine that did not fully pay its electricity bills.
  • Southeast Asian countries, including Malaysia, have cracked down on power theft associated with Bitcoin mining in the past few weeks.
Thailand authorities raided an illegal Bitcoin mine, causing power outages, while Malaysia continues its crackdown, destroying mining rigs and arresting operators.
Thailand busts illegal Bitcoin mine after repeated power outages

Illegal Bitcoin Mine Raided in Thailand

Thai police and electricity authorities raided an illegal Bitcoin mine in Ratchaburi after receiving numerous complaints about frequent power outages, according to an AFP report. The mine, reportedly fully operational since mid-July, consumed a significant amount of electricity but paid only a small fee.

Southeast Asia has become a hot spot for Bitcoin miners, attracted by affordable electricity prices and infrastructure, especially after China banned cryptocurrency mining in 2021.

Read more: Malaysia Bitcoin Mining: Seven Arrested for Power Theft in Crypto Ops

Malaysia’s Crackdown on Illegal Bitcoin Mining

In a similar effort, Malaysian authorities destroyed 985 illegal Bitcoin mining machines worth $452,500 last week as part of an ongoing crackdown on electricity theft linked to cryptocurrency mining. Sepang District Police also arrested seven individuals involved in illegal mining using stolen electricity.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Bitcoin

illegal Bitcoin mine

power outages

Thailand

Avatar of William

Author

William

In the fast-paced world of day trading, I've honed my skills for over six years using technical analysis tools and crafting short-term strategies. My expertise isn't from textbooks but from the trenches of online trading communities. I excel at reading chart patterns, applying technical analysis, and mastering risk management. "The market is about probabilities," I declare. As Editor at Coincu, I empower readers with the insights and strategies to conquer the dynamic world of day trading.
News

Thailand Busts Illegal Bitcoin Mine after Repeated Power outages

Key Points:

  • Thai authorities raided a Bitcoin mine that did not fully pay its electricity bills.
  • Southeast Asian countries, including Malaysia, have cracked down on power theft associated with Bitcoin mining in the past few weeks.
Thailand authorities raided an illegal Bitcoin mine, causing power outages, while Malaysia continues its crackdown, destroying mining rigs and arresting operators.
Thailand busts illegal Bitcoin mine after repeated power outages

Illegal Bitcoin Mine Raided in Thailand

Thai police and electricity authorities raided an illegal Bitcoin mine in Ratchaburi after receiving numerous complaints about frequent power outages, according to an AFP report. The mine, reportedly fully operational since mid-July, consumed a significant amount of electricity but paid only a small fee.

Southeast Asia has become a hot spot for Bitcoin miners, attracted by affordable electricity prices and infrastructure, especially after China banned cryptocurrency mining in 2021.

Read more: Malaysia Bitcoin Mining: Seven Arrested for Power Theft in Crypto Ops

Malaysia’s Crackdown on Illegal Bitcoin Mining

In a similar effort, Malaysian authorities destroyed 985 illegal Bitcoin mining machines worth $452,500 last week as part of an ongoing crackdown on electricity theft linked to cryptocurrency mining. Sepang District Police also arrested seven individuals involved in illegal mining using stolen electricity.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Visited 27 times, 27 visit(s) today