Cartel-Linked Crypto Farm Raided in Mexico Amid Surge in Grid-Theft Mining
A massive illicit cryptocurrency mining operation was recently dismantled in Mexico's Puebla state, where authorities seized over 300 specialized computing units and shut down a cartel-linked farm that had been tapping into a federal hydroelectric dam's power grid.
The operation, which investigators believe is linked to organized crime, used stolen electricity from the Nuevo Necaxa hydroelectric dam to mine cryptocurrencies. The site was discovered after local residents reported unusual energy consumption and a constant mechanical hum from the cooling systems.
The seized equipment includes 300 GPU-based mining rigs, 80 medium-voltage terminals and transformers, and eight satellite internet antennas that provided an independent connection to the site. Authorities suspect that the operation was producing privacy-focused tokens that are difficult to track.
This is not an isolated incident; similar cases have been reported in Malaysia, Brazil, and the United States within months. In fact, Mexico is one of four countries where grid-theft mining rings have been raided since May, with estimated losses running into millions of dollars.