On Jan. 8, law enforcement agents in Thailand’s Chon Buri province seized nearly 1,000 bitcoin mining rigs from a company accused of illegally accessing electricity from the national grid. Montree Theskhan, commander of the Crime Suppression Division (CSD) of the Royal Thai Police, said the accused company was using modified meters to run the mining rigs.

According to a report in the Bangkok Post, the compound where the company operated had solar panels installed that were not connected to the mining rigs. A different report said officials from the Provincial Electricity Authority (PEA) estimate the losses incurred by electricity providers at around $3.2 million (110 million baht). However, another report suggested that the losses were much higher.

The seizure of the mining rigs followed a CSD investigation into what officials referred to as a suspicious company that claimed to be in the business of trading digital currencies. After uncovering incriminating evidence, CSD officers subsequently obtained a warrant to search the company’s premises.

During the early morning raid, about 996 bitcoin mining rigs were found, along with four computers, three routers, and one electric meter with “traces of alteration to steal electricity.” The seized equipment was subsequently transferred to the CSD, while PEA officials are reported to have filed a complaint to prosecute the accused company.

“This kind of theft not only costs the economy millions but also strains the electricity supply,” an unidentified official reportedly said.

While the Thai government’s position on cryptocurrencies and blockchain has evolved over the years, it is reportedly less enthusiastic about Bitcoin mining. In addition, the Thai Revenue Department considers mining analogous to manufacturing operations, making it subject to taxation under Section 40(8) of the Revenue Code.

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