Mexico Seizes Illegal Cryptocurrency Mining Operation Suspected of Electricity Theft

Mexican authorities have uncovered an illegal cryptocurrency mining operation in a remote mountainous area of Traula, Puebla, where 300 GPUs, 80 medium-voltage terminals, and 8 satellite antennas were found on-site. An investigation is underway to determine whether the operation has been stealing electricity from a nearby hydroelectric plant. This is the fourth similar crypto farm discovered in the region since early last year, with three previously found near a hydroelectric plant in northern Puebla. Local residents reported that the noise from the equipment could be heard from a kilometer away. Security analyst David Saucedo stated that drug trafficking groups appear to have reached a new level of sophistication, as establishing such operations requires technical expertise and substantial financial backing. Caio Motta, a Chainalysis expert in Latin America, noted that such operations are typically located in areas with very low electricity prices or within the reach of organized crime, allowing them to steal electricity and establish large-scale mining infrastructures.

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