Mexico Busts Major Crypto Mining Operation, Seizes 300 Rigs
Forensic accountants in Mexico are working to uncover who funded a crypto mining operation that was recently busted by authorities. The operation, which involved 300 graphics processing unit (GPU) rigs, was seized from a remote property in Puebla state's Sierra Norte region.
The site, located near the Nuevo Necaxa dam, had been intercepting electricity directly from the federal hydroelectric complex, with officers seizing transformers, medium-voltage terminals, and satellite internet antennas during the raid.
According to State security minister Francisco Sánchez, the mining operation's cryptocurrency target has not yet been confirmed by authorities. However, the use of GPUs suggests that coins other than Bitcoin were being mined at the site.
The tip-off for the operation came from reports of illegal mining activity in the region, with investigators finding a large power connection on the premises.