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.
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. |
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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.
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. |
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