Mexico's Central Mountains Hide $100M Cryptocurrency Farm
A secretive cryptocurrency farm in Mexico's Central mountains has been uncovered by police, drawing attention for its excessive electricity use. Located near a gravel road, the site was discovered to be using 300 Graphics Processing Units (GPUs) and 80 medium-voltage terminals.
Investigators suspect that this operation was used as part of a broader money-laundering scheme, with cryptocurrency mining being a key component. This is the fourth such discovery in Puebla since last year, according to analyst David Saucedo.
Saucedo noted that these operations denote a new level of sophistication for drug cartels, utilizing technical expertise and financing from powerful criminal groups. The farm's electricity use was found to be illegal, with experts indicating that these mining farms exploit cheap electricity or steal it to minimize costs.
Global illicit cryptocurrency transactions are expected to more than double by 2025, according to expert Caio Motta. As law enforcement enhances its capabilities, the fight against such high-tech financial crimes intensifies.