Thai Police Seize 690 Illegal Bitcoin Mining Machines Worth IDR 38 Billion

In an effort to eradicate illegal crypto operations in Thailand, local police managed to confiscate 690 units of Bitcoin mining machines worth 69 million baht (around Rp. 38 billion) in a raid at an abandoned ice factory in the city of Samut Sakhon.

The operation came on Wednesday, May 1 after police received reports of suspicious use of electricity at the site. Officers found a total of 690 Bitcoin mining machines operating illegally, signaling large-scale crypto mining operations hidden behind ice factories.

"We found about 690 units used for Bitcoin mining," said Pichetpong Changkaikhon, Samut Sakhon City Police Chief, to AFP. "The estimated value reaches 69 million baht."

In addition to mining machines, the authorities also confiscated an electric transformer, laptop, and aluminum cable. A Myanmar citizen was arrested at the scene, and further investigations are underway on several individuals, including factory owners and property tenants.

Illegal Bitcoin Mining Raid

Raids in Samut Sakhon are part of the Thai police's ongoing efforts to combat illegal Bitcoin mining operations in the country. The mining operation is known to consume a significant amount of electrical energy, burden the power grid and potentially cause power outages.

Earlier, last week, officers from the Tech Crime Eradication Division also conducted raids at a Chinese temple in Ratchaburi and a warehouse in Samut Songkharam. They confiscated a total of 652 Bitcoin mining machines from these locations with an estimated value of USD 5 million (around IDR 75 billion).

Along with the crackdown on illegal Bitcoin mining, Thai financial regulators are also stepping up their regulatory efforts in the crypto asset sector. This week, the Thai Securities and Exchange Authority (SEC) warned crypto asset service providers against misleading advertising and hosting broker agency events (IBA) that were not in accordance with regulatory protocols.

Anek Yoyuen, deputy secretary-general of the SEC, expressed concern the agency is concerned about crypto exchanges promising high profits to investors in an irresponsible manner.

In addition, the Thai SEC is also working to block access to unofficial crypto exchanges in the country. This action aims to protect investors from fraud and minimize the risk of money laundering through digital assets.