Massive Bitcoin mining bust in Thailand causes $1.2 million in losses! What does this wave of crackdowns mean for the crypto sector?
Authorities in Thailand launched coordinated operations on June 21 across 14 sites in five northeastern provinces, seizing 315 illegal Bitcoin mining devices. Investigations revealed that unauthorized electricity use linked to these covert mining farms caused a financial loss totaling 40.38 million baht (over $1.2 million), raising fresh concerns over the scale of underregulated crypto activities in the region.