Mexican Cartel-Linked Crypto Farm Uncovered in Central Mountains
A hidden cryptocurrency farm in Mexico's Central Mountains has been uncovered by authorities, sparking concerns over cartel funding and money laundering. The facility, located near a gravel road, was discovered due to excessive electricity consumption, which exceeded the needs of nearby communities.
According to police, the crypto farm contained 300 graphics processing units (GPUs), 80 medium-voltage terminals, and eight satellite antennae. This is the fourth such operation found in the area since last year, with authorities suspecting that drug cartels are behind it.
David Saucedo, a Mexico-based security analyst, commented that setting up such an operation would require technical expertise and backing from a well-financed group, likely one of Mexico's most powerful cartels. The farm is believed to be stealing electricity from a nearby hydroelectric dam, with experts estimating the cost of minting one Bitcoin at nearly $45,000.