Thai police, in collaboration with electricity officials, have reportedly seized nearly 1,000 Bitcoin mining devices from a company accused of illegally diverting electricity to power the machines.
The raid took place at JIT Co’s facility in Phanat Nikhom, Chon Buri, on January 8, with authorities confiscating 996 Bitcoin miners. According to Pol Maj Gen Montree Theskhan, commander of the Crime Suppression Division (CSD), the company allegedly stole “hundreds of millions of baht” in electricity, translating to at least $2.88 million at current exchange rates.
Alleged modifications and power meter abuse
The company, registered for digital asset trading, is said to have used modified power meters to run the mining equipment during the night, while using the meters correctly during the day to avoid detection. However, Thai authorities are still working to identify those responsible for the theft, and arrest warrants are expected to be issued.
In addition to the mining equipment, solar panels were found on the premises, though they were not connected to the Bitcoin miners, according to reports. The Bitcoin mining operation at JIT Co was likely consuming enormous amounts of electricity, with a single efficient Bitcoin mining setup costing around 620,000 Thai Baht ($17,930) to mine just one Bitcoin—825 times more expensive than the average monthly electricity bill in Thailand.
Broader regional concerns
Thailand’s neighbor, Malaysia, has also been battling illegal mining operations, with $723 million worth of stolen electricity being used for crypto mining between 2018 and 2023. Malaysia has even resorted to using a steamroller to destroy confiscated mining equipment.
Thailand’s evolving crypto landscape
In other news, Thailand is preparing to trial crypto payments in Phuket, one of its most popular tourist destinations, as part of a pilot program offering foreign visitors an alternative payment method. This move follows calls from former Prime Minister Thaksin Shinawatra for the current administration to explore the cryptocurrency space further to remain globally competitive.
Conclusion
The raid on JIT Co’s Bitcoin mining operation sheds light on the growing concerns about the misuse of electricity for illegal crypto mining in Thailand. The seizure of nearly 1,000 mining devices and the alleged theft of millions in electricity highlight the need for more stringent regulations and monitoring of crypto operations. While authorities crack down on illegal mining activities, Thailand continues to explore cryptocurrency as a legitimate financial tool, with efforts like the Phuket crypto payment trial signaling its evolving stance on digital assets. As the country navigates this balance, it is clear that crypto-related activities will remain a critical focal point for both regulators and industry players.
I am Toby Rothschild, Co-Founder of Spearmint and author at Coinography, and a strategist focused on advancing Web3 innovation, digital ecosystems, and the future of decentralized technology. I combine product thinking, creative leadership, and deep interest in emerging trends to help shape how individuals and organizations interact with the next generation of digital systems.
My work centers on understanding how blockchain, AI, and digital identity are reshaping global industries. At Spearmint, I help lead the direction of initiatives that bring clarity, structure, and meaningful user experiences to complex technological environments. I focus on bridging vision with execution, ensuring that innovation remains practical, scalable, and aligned with long-term growth.
As an author at Coinography, I create insights that translate fast-moving Web3 developments into clear, useful narratives. I explore topics such as decentralized governance, digital identity, creator economies, token models, protocol design, and the shifting cultural patterns around emerging technology. My aim is to make digital transformation more understandable and approachable for a wider audience.
I believe that Web3 is not only a technological shift but a cultural and creative one. Strong ideas, thoughtful communication, and human-centered design will shape which technologies thrive and how communities evolve around them. My writing and research reflect this belief, focusing on clarity, relevance, and long-term perspective.
Professional Links Website: https://coinography.com LinkedIn: https://www.linkedin.com/in/tobyrothschild/
