Law enforcement agents in Chon Buri, Thailand, have seized nearly 1,000 bitcoin mining rigs.
The raid took place on 8 January and targeted a company accused of illegally accessing electricity from the national grid through the operation, and found approximately 996 bitcoin mining rigs, four computers, three routers, and one electric meter with “traces of alteration to steal electricity.”
Mining cryptocurrency is an extremely power-intensive venture due to the billions of calculations involved, requiring huge amounts of computing power.
All the devices seized were impounded.
Montree Theskhan, commander of the Crime Suppression Division of the Royal Thai Police, said the accused company was using modified meters to run the bitcoin rigs.
The Provincial Electricity Authority reported that the estimated losses incurred by electricity providers totalled around $3.2 million (110 million baht).
An unidentified official reportedly commented; “This kind of theft not only costs the economy millions but also strains the electricity supply."