Thailand’s Provincial Electricity Authority recently made headlines after shutting down a Bitcoin mining farm that had been tampering with power meters to steal electricity worth hundreds of millions of baht. The operation, located in the Phanat Nikhom district of Chonburi, was raided by the PEA in collaboration with the Crime Suppression Division, resulting in the seizure of 996 Bitcoin mining rigs.
It was discovered that the operators of the farm had manipulated their electricity meters to use power for their mining operations without paying for it, causing significant losses for the Thai state electricity provider. The individuals responsible for running the operation have not yet been identified, but the CSD is in the process of obtaining arrest warrants from the court.
The theft of electricity was orchestrated in a clever manner to avoid detection, with the power meter only being tampered with during nighttime operations. This allowed the farm to operate without raising suspicions during the day, further highlighting the extent to which some operators will go to maximize their profits in the energy-intensive Bitcoin mining process.
This incident is not an isolated one in Thailand, as the country has seen a rise in illegal mining activities following China’s crackdown on the sector in 2021. Over the past year, several raids have been conducted to combat the abuse of the power grid by unregistered miners, leading to frequent blackouts and increased costs for residents.
In a similar case in Ratchaburi, unregistered miners were found to be draining power from the local electricity grid, prompting the PEA to take action and dismantle the operation. More recently, individuals in the Surat Thani province were charged with stealing over $280,000 in electricity to power their mining rigs in an abandoned property.
The issue of electricity theft for Bitcoin mining is not unique to Thailand, as similar incidents have been reported in other countries as well. Malaysia’s national electricity provider disclosed losses upwards of $100 million from electricity theft for mining operations, prompting governments worldwide to tighten regulations and impose restrictions on the crypto-mining industry.
As the global crypto-mining industry continues to grow, it is essential for authorities to remain vigilant and enforce strict regulations to prevent further instances of electricity theft and ensure the sustainability of the power grid.