Mexican Cartels Use Remote Crypto Farms to Launder Illicit Funds
A clandestine cryptocurrency mining operation was discovered in the Sierra Norte region of Puebla state, Mexico. The site, found by authorities due to unusually high electricity consumption and audible mechanical noise, is the fourth such operation uncovered in the area since early 2025.
The raid on the building yielded over 300 graphics processing units, 80 medium-voltage terminals, and eight satellite antennae, which collectively form a system capable of competing globally for producing new Bitcoin. Investigators suspect that the operators stole electricity from a nearby hydroelectric dam and used the proceeds to clean illicit funds.
Caio Motta, Latin America specialist at blockchain analytics firm Chainalysis, noted that criminal groups often choose remote sites due to low energy costs or influence by cartels. This makes the economics of running such an operation favorable to the operators.