Mexican federal prosecutors, the navy and police in Puebla state seized about 300 cryptocurrency mining machines in the mountain municipality of Tlaola in northern Puebla, according to an Odaily report citing Decrypt. Authorities also recovered transformers, medium-voltage connection terminals and a functional satellite internet antenna during the operation. Investigators suspect the site was drawing electricity illegally from federal hydroelectric infrastructure supplied by the Nuevo Necaxa dam.
Crypto mining itself is legal in Mexico, but prosecutors are preparing charges tied to electricity theft. Puebla Security Minister Francisco Sánchez said investigators followed leads on illegal mining because the location was close to the Nuevo Necaxa dam and found a very large power connection at the site. Authorities have not ruled out money laundering. Forensic accountants are tracing the source of funds used to acquire the machines, while the state government is also checking whether any mining proceeds were used to launder criminal income. Mexico’s Federal Electricity Commission has joined the probe. From January to July 2024, non-technical losses from power theft, meter tampering and illegal hookups reached about 6.346 billion kilowatt-hours, worth roughly 1.38 billion pesos.
Mexican federal prosecutors, the navy and police in Puebla state seized about 300 cryptocurrency mining rigs in Tlaola, a mountain municipality in northern Puebla. Authorities also found transformers, medium-voltage connection terminals and a usable satellite internet antenna at the site. Investigators suspect the operation was drawing power illegally from federal hydroelectric infrastructure supplied by the Nuevo Necaxa dam.
Prosecutors are preparing electricity theft charges
Crypto mining is legal in Mexico, but prosecutors are preparing to file charges related to electricity theft. Puebla Security Minister Francisco Sánchez said investigators tracked local illegal mining leads because the site was close to the Nuevo Necaxa dam and discovered a very large electrical connection there.
Money laundering suspicions remain under review
Authorities have not ruled out money laundering. Forensic accountants are tracing the source of funding used to acquire the mining equipment, and the state government is checking whether output from the operation was used to launder criminal proceeds.
Federal Electricity Commission joins the investigation
Mexico’s Federal Electricity Commission has joined the investigation. From January to July 2024, non-technical losses caused by power theft, meter tampering and illegal grid connections totaled about 6.346 billion kilowatt-hours, with an estimated value of 1.38 billion pesos.
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