Mexican Cartels Uncover New Frontier in Crypto Money Laundering

A clandestine cryptocurrency farm has been discovered in the mountains of Central Mexico, sparking concerns about cartel funding.

The operation, located near a hydroelectric dam in Puebla state, used hundreds of specialized computers to mine virtual coins, including Bitcoin. Authorities estimate that this is the fourth such crypto farm uncovered in the area since early last year.

'Drug cartels appear to have reached a new level of sophistication,' said David Saucedo, a Mexico-based security analyst, adding that setting up such an operation would have required technical expertise and backing from a well-financed group.

The farm's energy costs were estimated at nearly $45,000 to mint one Bitcoin, with the process becoming increasingly resource-intensive. Experts warn that as cryptocurrency use rises, so too will crypto-related crime, with illicit transactions more than doubling in 2025 to an estimated $154 billion.