Thai Authorities Seize Nearly 1,000 Bitcoin Miners in Electricity Theft Bust

Thai Authorities Seize Nearly 1,000 Bitcoin Miners in Electricity Theft Bust

Electricity Theft Allegations
On January 8, 2025, law enforcement agents in Thailand’s Chon Buri province confiscated nearly 1,000 bitcoin mining rigs from a company accused of illicitly tapping into the national electricity grid. Montree Theskhan, commander of the Crime Suppression Division (CSD) of the Royal Thai Police, confirmed that the accused company was using modified electric meters to power its mining operations.

Modified Meters and Estimated Losses
The company’s facility had solar panels installed, but reports indicated they were not connected to the mining rigs. The Provincial Electricity Authority (PEA) estimated the financial damage from the electricity theft at approximately $3.2 million (110 million baht). However, other reports suggest the losses could be even greater.

The bust followed a CSD investigation into the company, which had claimed to be engaged in cryptocurrency trading. Upon gathering enough evidence, CSD officers secured a warrant to search the premises.

Seizure and Ongoing Investigation
During the raid, authorities uncovered 996 bitcoin mining rigs, along with four computers, three routers, and one altered electric meter, designed to facilitate the theft of electricity. The seized equipment was subsequently taken into custody by the CSD. PEA officials have filed charges against the company for the electricity theft.

An unnamed official from the Royal Thai Police remarked,

“This kind of theft not only costs the economy millions but also strains the electricity supply.”

Regulatory Environment for Crypto Mining
While Thailand’s stance on cryptocurrencies and blockchain has shifted over time, the country remains wary of Bitcoin mining. The Thai Revenue Department treats mining as a manufacturing activity, subjecting it to taxation under Section 40(8) of the Revenue Code.

The ongoing investigation and seizure highlight the government’s increasing scrutiny of cryptocurrency operations, particularly those found to be engaging in illegal practices such as electricity theft.