As a seasoned researcher with a background in energy policy and digital currencies, I find myself at the intersection of two fascinating yet complex worlds – electricity systems and cryptocurrency. The recent raid on an illegal Bitcoin mining operation in Ratchaburi serves as a stark reminder of the potential challenges these intersecting domains can present.
As a researcher, I recently found myself involved in an intriguing incident. In the western part of Bangkok, specifically in the town of Ratchaburi, Thai authorities conducted a raid on an illicit Bitcoin mining operation. This action was prompted by recurring power outages that have been plaguing the area for about a month.
Based on AFP reports, a joint operation by the Provincial Electricity Authorities and local law enforcement agencies revealed that Bitcoin mining equipment was found to be using substantial amounts of power during a raid.
These grids were unregistered and were not being paid out or reported properly.
Power grid issues
According to a report by AFP, Jamnong Chanwong, the chief district security officer, stated that the operation was expected to be completely active around mid-July, which is also when the power cuts began.
The unregistered mining activity caused frequent power outages and posed significant risks to the electrical infrastructure, potentially leading to long-term damage and higher costs for local residents.
Although the mining operation consumed a significant amount of electricity, it incurred very little in fees, sparking doubts and leading to a raid. However, when authorities arrived at the site, much of the equipment had already been relocated, and no one was apprehended.
Mining Bitcoins can be costly and involves paying for utility costs and potential local charges or taxes. Recently, an Airbnb landlord found out that their tenants were using the property for cryptocurrency mining, leading to a $1,500 electricity expense.
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2024-08-26 17:54