Mexican federal prosecutors, working with the navy and police in Puebla state, raided a property in the remote mountain municipality of Tlaola and seized about 300 cryptocurrency mining machines, according to Decrypt. Authorities also confiscated equipment including transformers, medium-voltage terminals and a satellite internet antenna.
Investigators said the mining site had been illegally connected to the grid of the Nuevo Necaxa hydroelectric plant. Prosecutors have already filed charges over alleged electricity theft. The case has not stopped there: forensic accountants are now tracing the source of funding used to acquire the hardware, and money laundering has not been ruled out.
The report comes against a broader backdrop of power losses in Mexico. Data from the country’s Federal Electricity Commission showed that non-technical electricity losses totaled 6,346 gigawatt-hours between January and July 2024, with an estimated value of 13.8 billion pesos, or about $817 million.
Mexican federal prosecutors, together with the navy and police in Puebla state, raided a property in Tlaola, a remote mountain municipality in Puebla, and seized about 300 cryptocurrency mining machines, according to Decrypt.
Authorities also confiscated transformers, medium-voltage terminals and a satellite internet antenna at the site.
Power theft charge filed
The investigation found that the mining operation had been illegally connected to the power grid of the Nuevo Necaxa hydroelectric plant. Authorities have filed a criminal case on charges of electricity theft.
Forensic accountants are now tracing the source of funds used to purchase the hardware. A money laundering angle has not been ruled out.
Mexico power loss data
Data from Mexico’s Federal Electricity Commission showed that non-technical electricity losses reached 6,346 gigawatt-hours from January to July 2024, with an estimated value of 13.8 billion pesos, or about $817 million.
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