Thai authorities seized an illegal bitcoin mining rig west of Bangkok, according to local officials on Sunday, following complaints from locals about recurring outages in the region for more than a month,
The unlawful mining of bitcoin keeps increasing for years, but miners are still subject to the same taxes as manufacturers in Thailand.
The Raid on Illegal Bitcoin Mining
According to chief zone investigator Jamnong Chanwong, they discovered Bitcoin processing rigs, alluding to individuals using a house in west Bangkok to manage a mine, utilizing power they didn’t fully pay for.
In reference to the documents, Jamnong informs the media that although the residents use a lot of electricity, they have paid a minimal amount. Bitcoin and other virtual currencies must be mined with technical machines that use a lot of electricity.
Although bitcoin miners in Thailand are subject to taxes since the authorities regard them as manufacturers, illicit mining is still expensive.
According to Jamnong, security personnel’s first attempt was not futile, as the occupant requested a warrant on Thursday. When they arrived with a search warrant, the miners had moved the majority of the equipment.
He claimed the power shortages started in mid-July when the mine probably commenced operations fully. A firm has rented the residence for around four months.
The investigator mentioned that the authorities did not make any arrests in connection with the raid. This year, they conducted their fourth operation on an illegal bitcoin mine in the province of Ratchaburi.
Thailand Has a Crypto-Friendly PM
Thailand has undergone a significant political shift with the appointment of Paetongtarn Shinawatra as the country’s youngest prime minister.
The removal of her predecessor, Srettha Thavisin, opens a new chapter in Thai politics, driven by a mix of family legacy, political maneuvering, and a potential move toward cryptocurrency adoption.
Moreover, the shared enthusiasm for cryptocurrency has led to speculation that Thailand could follow in El Salvador’s footsteps and become the next nation to adopt digital assets as legal tender.
