According to the Bangkok Post: Thai police have seized 996 Bitcoin mining machines at the JIT Co facility in Chon Buri for allegedly using illegal electricity, causing at least 100 million baht (about 2.88 million USD) in damage. The Bitcoin miners were seized on a road at the JIT Co facility in Phanat Nikhom, Chon Buri, on January 8.
The company reportedly tampered with electricity meters to hide its illegal activity, with electricity consumption several times higher than the average bill. It is part of a crackdown on illegal cryptocurrency mining in Southeast Asia, where Malaysia also recorded losses of $723 million from 2018 to 2023. Meanwhile, Thailand is testing cryptocurrency payments in Phuket, reflecting an approach that both controls and encourages innovation in the sector.
Cryptocurrency mining is an extremely energy-intensive activity. Without strict management measures, illegal mining will continue to develop in a complex manner, causing many serious consequences for the environment, economy and society.
The seizure of a large number of illegal Bitcoin mining machines in Thailand is a wake-up call about the negative impacts of this activity.
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