Mexican authorities have uncovered an illegal cryptocurrency mining operation in a remote mountain building in Tlacuilotepec, Puebla state, according to Reuters as cited by ChainCatcher. Officials found 300 GPUs, 80 medium-voltage terminals, and eight satellite dishes at the site, and are now investigating whether the operation stole electricity from a nearby hydroelectric plant. The case is the fourth similar crypto mining farm discovered in the area since the beginning of last year. Three other sites were previously found near a hydroelectric facility in northern Puebla. Local residents said the noise from the equipment could be heard from as far as one kilometer away. Security analyst David Saucedo said the setup suggests a new level of sophistication from drug trafficking groups, given the technical expertise and financial backing required. Chainalysis Latin America specialist Caio Motta said such sites are often located in areas with very low power costs or within territory controlled by organized crime, making power theft and large-scale mining infrastructure easier to establish.
Mexican authorities have uncovered an illegal cryptocurrency mining site inside a remote mountain building in Tlacuilotepec, Puebla state, Reuters reported, according to ChainCatcher. Officials found 300 GPUs, 80 medium-voltage terminals, and eight satellite dishes at the location.
Authorities are investigating whether the site was stealing electricity from a nearby hydroelectric plant.
The operation is the fourth similar crypto mining farm found in the area since the beginning of last year. Three other sites were discovered last year near a hydroelectric plant in northern Puebla.
Local residents said the noise from the equipment could be heard from as far as one kilometer away.
Mexican security analyst David Saucedo said drug trafficking groups appear to have reached a new level of sophistication, as building this kind of operation requires technical expertise and backing from well-funded organizations.
Caio Motta, a Latin America specialist at Chainalysis, said these sites are typically located either where electricity prices are extremely low or in areas controlled by organized crime, allowing operators to steal power and build large-scale mining infrastructure.
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