Thailand seizes 996 Bitcoin miners after busting local operation stealing electricity
Thai authorities confiscated 996 Bitcoin mining rigs in Chon Buri province for illegally siphoning electricity. The raid on January 8 targeted JIT Co., a digital asset trading firm, after discovering tampered power meters to evade electricity charges. The modified meters resulted in significant losses for local electricity providers, estimated in the hundreds of millions of baht. Investigators found that solar panels on the property were not connected to the mining equipment, which requires substantial energy for crypto transaction validation. Mining one Bitcoin in 2023 consumes about 155,000 kWh, costing approximately 620,000 baht, compared to the average household bill of 750 baht. The operation underscores regulatory challenges as crypto mining expands, with the Thai government emphasizing the need to protect public resources. Investigations are ongoing to determine the full extent of damages and identify other involved parties.
