Mexico Cracks Down on Crypto Farms Laundering Illicit Funds

Hidden in the remote mountains of central Mexico, authorities have discovered a clandestine cryptocurrency farm that's part of a growing trend of organised crime using crypto to launder illicit funds.

The operation, located near a sparsely travelled gravel road, was brought to light by the loud mechanical whirring and excessive electricity usage, far surpassing the needs of the surrounding small communities. The authorities suspect it was stealing electricity from a nearby hydroelectric dam.

Experts say this is part of a new frontier in Mexico's fight against organised crime, which has extended its reach beyond drug trafficking and extortion into financial crime. David Saucedo, a security analyst, described the setup as 'a new level of sophistication' requiring technical expertise and backing from a well-financed group.

The farm contained 300 graphics processing units (GPUs), 80 medium-voltage terminals, and eight satellite antennae, all geared to compete against millions of other machines to solve puzzles and create valuable crypto coins. The Puebla operation is the fourth such crypto farm uncovered in the area since early last year.

Globally, illicit cryptocurrency transactions more than doubled in 2025, with addresses linked to criminal activity receiving an estimated $US154 billion ($214.8 billion). Experts attribute much of this increase to a surge in sanctions evasion and payments involving sanctioned governments.