Law enforcement in Thailand’s Chon Buri province recently seized nearly 1,000 bitcoin mining rigs from a company accused of illegally accessing electricity.

Modified Meters Used to Aid Electricity Theft
On Jan. 8, law enforcement agents in Thailand’s Chon Buri province seized nearly 1,000 bitcoin mining rigs from a company accused of illegally accessing electricity from the national grid. Montree Theskhan, commander of the Crime Suppression Division (CSD) of the Royal Thai Police, said the accused company was using modified meters to run the mining rigs.
According to a report in the Bangkok Post, the compound where the company operated had solar panels installed that were not connected to the mining rigs. A different report said officials from the Provincial Electricity Authority (PEA) estimate the losses incurred by electricity providers at around $3.2 million (110 million baht). However, another report suggested that the losses were much higher.
The seizure of the mining rigs followed a CSD investigation into what officials referred to as a suspicious company that claimed to be in the business of trading digital currencies. After uncovering incriminating evidence, CSD officers subsequently obtained a warrant to search the company’s premises.
During the early morning raid, about 996 bitcoin mining rigs were found, along with four computers, three routers, and one electric meter with “traces of alteration to steal electricity.” The seized equipment was subsequently transferred to the CSD, while PEA officials are reported to have filed a complaint to prosecute the accused company.
“This kind of theft not only costs the economy millions but also strains the electricity supply,” an unidentified official reportedly said.
While the Thai government’s position on cryptocurrencies and blockchain has evolved over the years, it is reportedly less enthusiastic about Bitcoin mining. In addition, the Thai Revenue Department considers mining analogous to manufacturing operations, making it subject to taxation under Section 40(8) of the Revenue Code.
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Thailand plans to pilot crypto payments in Phuket, making it easy for tourists to pay for goods and services using digital assets.

Tourists Will Soon Be Able to Pay for Goods and Services in Bitcoin
Pichai Chunhavajira, Thailand’s Deputy Prime Minister declared on Wednesday, Jan. 8 at a seminar organized by the Thailand Marketing Association that the nation will begin a new crypto payment initiative. The crypto payment initiative will begin in Phuket, a well-known tourist destination and tourists will be able to shop using digital assets.
Pichai added that to prevent any legal infractions, the pilot program will adhere to the current legal framework. Foreign visitors will be able to register their bitcoin through Thai exchanges, undergo identity verification, and use their crypto to pay for goods and services in Phuket as part of the pilot program. The bitcoin would then be exchanged for Thai baht by a clearing house.
The Phuket trial will require no amendment to the current laws and will guarantee Thailand’s competitiveness in the global economy with the idea motivated by the growing value of cryptocurrencies and their appeal to international travelers.
The usage of digital currency in daily life has already been adopted by a small, crypto-savvy population in the country. Thailand’s “bitcoin town” is a community in Kalasin’s Huai Phueng district, according to Right Shift, a Youtube channel that encourages bitcoin adoption with over 80 locals accepting Satoshi via the Bitcoin Lightning app, enabling tourists and villagers to make cashless transactions.
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🚨The Prime Minister of Thailand, Prayut Chan-o-cha, has just revealed his personal assets, totaling up to 400 million dollars! 💰🇹🇭

This revelation comes amid increasing discussions about transparency and accountability in government leadership. Prayut, who has led Thailand since 2014, disclosed his entire asset portfolio as part of a mandatory declaration required by Thai law for public officials. 📝✨

Kasikornbank Financial Conglomerate, a major Thai banking group, said it plans to launch the country’s first licensed digital asset custodian. The service, called Orbix Custodian, is licensed by the Ministry of Finance and overseen by the securities regulator. Kasikornbank is currently testing its systems ahead of a launch in early 2025. The goal is to protect investors and build confidence in the market.

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preface
Web3 technology is developing rapidly and attracting widespread attention around the world. Governments, enterprises and developers are actively exploring and promoting Web3 applications. For example, innovations in the financial field of cryptocurrency and decentralized finance (DeFi), as well as the application of non-fungible tokens (NFT) in the art and entertainment industries, have shown great potential. Web3 not only brings innovation in technology, but also has far-reaching impacts on the economic and social levels, promoting the development of the digital economy and the transformation of the global economic structure.
In Southeast Asia, Thailand, as a leader in the Web3 market, has performed particularly well. Thailand has a sound digital asset regulatory system, active market participants, and strong technical and financial infrastructure. This makes Thailand a regional leader in the adoption and innovation of Web3 technology. In particular, in areas such as blockchain applications, cryptocurrency trading, and decentralized finance, Thailand has shown great potential and competitiveness.