Thailand arrests 996 Bitcoin miners after shutting down local operation for stealing electricity
Thai authorities have seized 996 pieces of Bitcoin (BTC) mining equipment in Chonburi province, accusing operators of illegally siphoning electricity to power energy-intensive machines.
The raid, conducted in the Phanat Nikhom district on January 8, highlights growing concerns about the misuse of public utilities for cryptocurrency mining operations. Thai authorities have previously conducted several raids on properties consuming unusually high amounts of electricity.
Police and crime lab officials targeted JIT Co., a digital asset trading registration company, after discovering evidence of power meter manipulation to evade electricity bills.
Crime Suppression Unit commander Montree Theskhan, who led the operation, said the modified meters had helped the company avoid significant electricity costs and losses to local suppliers worth hundreds of millions of baht.
Investigators noted that although the building had solar panels, it was not connected to mining equipment, which requires massive computing power to verify cryptocurrency transactions.
One official told reporters:
“This type of theft not only costs the economy millions of dollars but also puts a strain on power supplies.”
Authorities noted that a typical monthly household electricity bill in Thailand amounts to approximately 750 baht, a sharp contrast to the industrial-scale consumption of the seized rigs.
Bitcoin mining is known to consume a lot of energy. According to the study, mining a single Bitcoin in 2023 would require approximately 155,000 kWh of electricity, even using a very efficient setup.
In Thailand, where electricity costs an average of 4 baht per kWh, mining one Bitcoin costs 620,000 baht. This is well over the average household’s monthly electricity bill of 750 baht.
The work highlights the ongoing challenges regulators face as cryptocurrency mining operations grow globally. The Thai government maintains a cautious stance on digital asset activity, with officials stressing the importance of protecting public resources from misuse.
The investigation continues to assess the full extent of the damage and identify additional parties involved in the scheme.
