Bitcoin

Thai authorities raided an illegal Bitcoin mining operation in Ratchaburi, a town west of Bangkok, following reports of frequent blackouts over the past month.&nbsp;
According to AFP <a href="https://www.scmp.com/news/asia/southeast-asia/article/3275823/thai-authorities-raid-illegal-bitcoin-mine-after-power-outages" target="_blank" rel="noopener noreferrer nofollow">reports</a>, the raid, carried out by the Provincial Electricity Authorities and local police, uncovered evidence of Bitcoin (<a href="https://crypto.news/price/bitcoin/" data-type="link" data-id="https://crypto.news/price/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">BTC</a>) mining rigs consuming large amounts of electricity.
These grids were unregistered and were not being paid out or reported properly.&nbsp;
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<h2 class="wp-block-heading" id="power-grid-issues">Power grid issues&nbsp;</h2>
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.
Despite the massive electricity consumption, the mining operation paid minimal fees, 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.
Bitcoin mining is expensive and requires local fees and taxes. Earlier this month, an Airbnb host <a href="https://crypto.news/airbnb-host-come-for-the-stay-leave-with-100k-in-crypto/" target="_blank" data-type="link" data-id="https://crypto.news/airbnb-host-come-for-the-stay-leave-with-100k-in-crypto/" rel="noopener noreferrer nofollow">discovered</a> her guests had been mining crypto at her property, resulting in a $1,500 electricity bill.&nbsp;
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Thailand raids illegal Bitcoin mine after frequent power outages

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