Thai authorities raid illegal mining operation west of Bangkok

Thai authorities raided an illegal Bitcoin (BTC) mining operation in Ratchaburi, west of Bangkok, on Friday, the South China Morning Post reported on Sunday. The raid came after several residents in the area complained of frequent power outages for more than a month.

Regional security chief Jamnong Chanwong said:

“We found Bitcoin mining rigs and pointed out people who were using these homes to run mines and use the electricity without paying for it in full.”

According to Chan Wong, records show that the raided house was consuming an unusually large amount of electricity. But the residents were not paying for most of the electricity consumed.

Chan Wong said authorities visited the house in question on Thursday but were denied entry by security guards. Authorities then returned the next day with a search warrant and conducted a raid.

During the raid, police and local Electricity Authority (PEA) officials discovered that most of the mining equipment had already been moved elsewhere.

The house that was raided had been leased by a company for four months, but residents began complaining of power outages last month when mining operations were in full swing.

Although no one was arrested during this crackdown, it is the fourth time authorities have cracked down on an illegal Bitcoin mine in Ratchaburi province.

Illegal Bitcoin Mining Is On the Rise

In Thailand, Bitcoin miners are treated as manufacturers and are subject to applicable taxes. However, illegal mining operations have been on the rise over the years, not only in Thailand but throughout Southeast Asia.

According to a report published by Malay Mail last month, $723 million worth of electricity was stolen from illegal mining operations between 2018 and 2023. Malaysian authorities have destroyed $1.2 million worth of Bitcoin mining equipment seized from illegal operations to control the epidemic.

Thailand has been implementing cryptocurrency regulations aimed at protecting investors and encouraging innovation. The Securities and Exchange Commission of Thailand has started allowing retail investors to buy digital assets backed by real estate or infrastructure projects.

However, with illegal mining cases on the rise in Thailand, there is a growing need to enforce the law more strictly.