Thai authorities confiscated a total of 996 Bitcoin Mining Rigs (BTC) in Chon Buri, accusing their operators for illegally stealing power to operate the machines.
This raid in Phanat Nikhhom, which took place on January 8, highlights the growing concern about crypto-mining operations using public utilities. Thai authorities have conducted raids in the past on homes that were consuming unusually high amounts of electricity.
The Crime Suppression Division and the Police targeted JIT Co. a company registered to trade digital assets after discovering evidence of power meters that were altered in order to cheat on electricity bills.
The Crime Suppression Division commander Montree Theskhan led the operation. He said that the modified meters enabled the company to avoid substantial electricity costs. Losses estimated at hundreds of millions of Baht were incurred by local suppliers.
Investigators found that despite the solar panels being on the premises, they weren’t connected to mining equipment. This requires a lot of computing power in order to verify crypto transactions.
Reporters were told by an official:
This kind of theft not only costs the economy millions but also strains the electricity supply.”
According to authorities, the average monthly bill for a Thai household is 750 baht. That’s a stark contrast with the massive consumption levels of the oil rigs seized.
Mining bitcoin is known to be a high energy consumer. Studies show that mining just one Bitcoin will require approximately 155,000 kilowatt-hours of electricity in 2023, even for highly efficient systems.
In Thailand, where electricity costs average 4 baht per kWh, mining one bitcoin would amount to 620,000 baht — far beyond the average household’s monthly electricity bill of 750 baht.
It highlights the ongoing regulatory challenges as crypto mining grows globally. Thailand’s government maintains a cautious stance on digital asset activities, and officials stressed the importance of safeguarding public resources against exploitation.
The investigation continues to determine the extent of the damages as well as identifying additional individuals involved in the scam.
Posted In: Bitcoin, Thailand, Crime, Featured, Mining, Regulation Author 
Assad Jafri
AJ is a dedicated journalist who has spent over a ten-year period honing his craft in various countries. He specializes in financial reporting and now concentrates on cryptocurrency.
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