Thai police, in collaboration with electricity officials, seized 996 Bitcoin mining devices from JIT Co, which allegedly stole significant amounts of electricity to power its operations. The raid occurred on January 8 in Phanat Nikhom, Chon Buri. Reports indicate that the company may have diverted at least 100 million baht (around $2.88 million) worth of electricity, using modified power meters to run the rigs at night while appearing compliant during the day. While the Bangkok Post reported details about the seizure, Nation Thailand highlighted that the Crime Suppression Division has yet to identify the responsible individuals or the company, and is pursuing court warrants for arrests. Although other power meters were found on-site, they were not connected to the Bitcoin miners. This incident is part of a broader crackdown on illegal cryptocurrency mining operations in Thailand and the region, with neighboring Malaysia also actively seizing mining equipment in recent years, underscoring ongoing regulatory challenges in the crypto sector.

Source 🔗