Mexico seizes 300 crypto mining machines allegedly illegally connected to a hydroelectric power supply system

Odaily Planet Daily reported that Mexico's federal prosecution service, navy, and Puebla state police seized approximately 300 cryptocurrency mining machines in the mountainous northern area of Tlola, Puebla. The operation also uncovered transformers, medium-voltage cable terminals, and operational satellite internet antennas. Electricity at the site is suspected to have been illegally drawn from the federal hydroelectric facility powered by the Nuevo Necaxa Dam.

Crypto mining itself is legal in Mexico, but prosecutors are preparing to file charges related to electricity theft. Francisco Sánchez, Puebla's Secretary of Public Security, said investigators tracked local illegal mining leads due to the site's proximity to the Nuevo Necaxa Dam and discovered a large-scale electrical connection.

Money laundering suspicions have not been ruled out. Forensic accountants are tracing the source of funds for the mining machines, and the state government is also investigating whether the resulting output was used to launder criminal proceeds. Mexico's Federal Electricity Commission has joined the investigation. Between January and July 2024, non-technical losses caused by electricity theft, meter tampering, and illegal connections totaled approximately 6.346 billion kilowatt-hours, valued at around 1.38 billion pesos. (Decrypt)