Mexican Cartels Turn to Crypto Mining as New Tool for Laundering Illicit Funds
Crypto mining has become a new tool for organized crime in Latin America, particularly among Mexican cartels. Authorities recently discovered a hidden crypto mining site in Puebla state, seizing hundreds of graphics processing units and medium-voltage terminals.
The operation, which is the fourth similar one found in the region since early 2025, points to a growing trend of criminal groups exploiting virtual currency mining for financial gain. According to Chainalysis, illicit crypto transactions worldwide surged past $154 billion in 2025, more than double the total from 2024.
Security analyst David Saucedo noted that only a well-funded group, such as one of Mexico's major cartels, could likely back such infrastructure. The operation stole electricity from a nearby hydroelectric dam to power its equipment, highlighting the cartel's use of cheap or stolen electricity to cut costs and scale mining operations.
Crypto mining remains a lucrative business, with the cost of minting one Bitcoin near $45,000. Despite this, cartels are using it as a means to launder illicit funds, taking advantage of the increasing ease of access to virtual currencies globally.