Popular Post webfact Posted April 28 Popular Post Share Posted April 28 File photo courtesy of Wiki Thailand’s Technology Crime Suppression Division (TCSD) and the Provincial Electricity Authority (PEA) launched a joint operation, uncovering illegal Bitcoin mining centres in Samut Sakhon and Ratchaburi provinces on Friday. Authorities raided a vegetarian shelter in Samut Sakhon’s Ban Paew district, revealing 187 Bitcoin mining machines. The PEA noticed evidence of electricity meter manipulation, with readings showing lower power usage than the actual amount consumed. The shelter’s caretaker, Sombat Tangnava, was taken into custody. In a parallel operation, officials swooped on a warehouse in Ratchaburi's Muang district. They discovered 465 Bitcoin mining machines and similarly detected meter tampering. The warehouse's caretaker, Kiatkong Tumthong, was also apprehended. Both detainees asserted that they had legally imported the Bitcoin mining machines from China. They claimed they were selling it to the public interested in cryptocurrencies, including Bitcoin, Ethereum, Tether, Binance Coin and Dogecoin. The suspects also announced that they were charging each investor 6,200 baht per month for each machine kept in their facilities and an additional 9,000 baht for electricity consumption. -- 2024-04-29 Get our Daily Newsletter - Click HERE to subscribe 1 2 3 Link to comment Share on other sites More sharing options...
Popular Post bubblegum Posted April 28 Popular Post Share Posted April 28 Bitcoin mining illegal ????? 3 3 1 Link to comment Share on other sites More sharing options...
Popular Post kwonitoy Posted April 28 Popular Post Share Posted April 28 1 hour ago, bubblegum said: Bitcoin mining illegal ????? The PEA noticed evidence of electricity meter manipulation, with readings showing lower power usage than the actual amount consumed. That's what's illegal 1 2 1 Link to comment Share on other sites More sharing options...
Popular Post stoner Posted April 28 Popular Post Share Posted April 28 23 minutes ago, kwonitoy said: The PEA noticed evidence of electricity meter manipulation, with readings showing lower power usage than the actual amount consumed. That's what's illegal So electricity theft not the actual mining as it insinuates in the flashy headline. 2 4 Link to comment Share on other sites More sharing options...
Popular Post OneMoreFarang Posted April 28 Popular Post Share Posted April 28 It's always great to see these shiny golden coins. But I still haven't seen any of those mining machines which spit out those coins. Strange. 1 6 Link to comment Share on other sites More sharing options...
Gottfrid Posted April 29 Share Posted April 29 7 hours ago, webfact said: The suspects also announced that they were charging each investor 6,200 baht per month for each machine kept in their facilities and an additional 9,000 baht for electricity consumption. Per month, per machine???? That sounds like a really bad investment. Link to comment Share on other sites More sharing options...
Emdog Posted April 29 Share Posted April 29 7 hours ago, bubblegum said: Bitcoin mining illegal ????? Should be. The vast quantities of power used to produce essentially nothing is staggering 1 1 Link to comment Share on other sites More sharing options...
Popular Post John Drake Posted April 29 Popular Post Share Posted April 29 8 hours ago, webfact said: Authorities raided a vegetarian shelter What's a vegetarian shelter? Is this some sort of place for broken down Hare Krishnas? 5 Link to comment Share on other sites More sharing options...
Caldera Posted April 29 Share Posted April 29 16 hours ago, webfact said: The PEA noticed evidence of electricity meter manipulation, with readings showing lower power usage than the actual amount consumed. So the headline is nonsensical, as so often. Not the fact that they were mining bitcoin is illegal, but the fact that they were stealing electricity. Link to comment Share on other sites More sharing options...
Misty Posted April 29 Share Posted April 29 1 hour ago, Caldera said: So the headline is nonsensical, as so often. Not the fact that they were mining bitcoin is illegal, but the fact that they were stealing electricity. Maybe that's all it was - thievery. But cryptocurrency is a regulated activity in Thailand - were they licensed? Did they report their financials, pay tax, etc? Maybe they were stealing electricity in part to hide the operation. Link to comment Share on other sites More sharing options...
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