Mexican Cartels Use Crypto Farms to Launder Illicit Funds
A clandestine cryptocurrency farm was discovered in the mountains of Central Mexico, sparking concerns about cartel funding. The operation, which used hundreds of specialized computing units to mine virtual coins, was suspected of laundering illicit funds.
The discovery is part of a larger trend of organized crime groups extending their reach beyond traditional activities like drug trafficking and extortion into financial crime. In Puebla state, authorities have found four such crypto farms since early last year, with the latest one located near a hydroelectric dam.
Evidence suggests that electricity theft may be fueling these operations, as cheap or stolen power is essential for crypto mining. According to Chainalysis, illicit cryptocurrency transactions more than doubled in 2025, with addresses linked to criminal activity receiving an estimated $154 billion.