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Police Raid Illegal Bitcoin Mining Operations in Bangkok and Pathum Thani


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Posted

Hopefully all these illegal mining operations will not affect the electricity price for us all. 11 million here, 6 million there and another 2-5 in a lot of other places.

Posted

Bitcoin is said to use an incredible amount of electricity to keep running – i.e., the so-called mining – and it seems that the costs are becoming that high, compared to the gain, that  fraud with electricity is necessary. I wonder what happens when even less coins are mined, if the value of Bitcoin for one-or-other reason also falls...🤔

Posted
11 minutes ago, GreasyFingers said:

Can someone tell me why bitcoin mining is illegal in itself.

 

Bitcoin mining in Thailand is legal. Probably need to register as a business, pay tax, and abide by business regulations.

 

The crime is nicking electricity.

  • Like 1
Posted

In the UK the biggest abstracters of electricity are cannabis farms, which need it for heat and light indoors. Here where it’s legal to grow, the bitcoin miners come top of the electricity theft league.

Posted
On 3/16/2025 at 3:01 AM, Georgealbert said:

Police Raid Illegal Bitcoin Mining Operations in Bangkok and Pathum Thani

 

Must admit I read this as "Britcoin Mining Operation" 😂
I clicked on ii I thinking this should be good :biggrin:
but turns out it just Bitcoin   :giggle:

Posted
20 hours ago, khunPer said:

I wonder what happens when even less coins are mined, if the value of Bitcoin for one-or-other reason also falls.

The price goes up with less supply. Basic economics. Its the whole reason btc is so valuable. It has fixed supply. Due to the halvening process every 4 yrs the amount of btc created is cut in half. Its incredibly smart code and an extremely valuable asset. 

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