• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Illegal Bitcoin Mining Farm Discovered and Shut Down in Thailand

user avatar

by Giorgi Kostiuk

a year ago


  1. Power Grid Issues
  2. Investigation and Authorities' Actions
  3. Previous Cases of Illegal Mining

  4. Thai authorities conducted a raid on an illegal Bitcoin mining farm in Ratchaburi following complaints about frequent power outages.

    Power Grid Issues

    Jamnong Chanwong, a chief district security officer, explained in the AFP report that the operation likely became fully operational in mid-July, coinciding with the start of the power outages. The unregistered mining activity caused frequent power outages and posed significant risks to the electrical infrastructure, potentially leading to long-term damage and higher costs for local residents.

    Investigation and Authorities' Actions

    Bitcoin mining rigs consumed large amounts of electricity without proper payment, raising suspicions and prompting the raid. By the time authorities entered the property, much of the equipment had been moved, and no arrests were made.

    Previous Cases of Illegal Mining

    Earlier this month, an Airbnb host discovered her guests had been mining crypto at her property, resulting in a $1,500 electricity bill.

    Illegal mining continues to be a significant issue, impacting electrical grids and causing financial losses. Authorities continue to combat such cases to prevent damage and ensure fair use of resources.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Morgan Stanley to Enhance Bitcoin and Crypto Services

chest

Morgan Stanley is set to enhance its Bitcoin and crypto services, including spot trading on ETRADE and plans for custody and lending services.

user avatarAyman Ben Youssef

XRP Investors Warned Against Panic Selling

chest

Max Avery warns XRP investors against panic selling during the market downturn, highlighting potential losses and tax implications.

user avatarTando Nkube

Negotiations on Stablecoin Interest Payments Continue

chest

Ongoing discussions about whether stablecoin issuers can offer interest on unused token balances, with a focus on user engagement rewards.

user avatarKofi Adjeman

Oppenheimer Analyst Upgrades Oracle Stock Rating

chest

Oppenheimer analyst Brian Schwartz upgraded Oracle's stock rating to 'buy' with a target price of $185, indicating a potential 25% return on investment over the next 12 months.

user avatarNguyen Van Long

Oracle Stock Surges After Nvidia Earnings Call

chest

Oracle's stock price increased significantly following Nvidia's positive earnings report, which alleviated concerns about the AI market.

user avatarSatoshi Nakamura

Bitcoin's Correlation with Stock Market Hits Record Low

chest

Bitcoin has recently become the least correlated to the stock market since the FTX crash in 2022, according to analytics firm Santiment.

user avatarJesper Sørensen

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.