Thai police seize about 1,000 bitcoin miners from JIT Co.

Thai police seized 996 bitcoin mining devices from JIT Co., based in the eastern province of Chon Buri, according to local media.

The firm, registered to trade digital assets, is suspected of stealing electricity. Preliminary estimates put losses at hundreds of millions of baht (millions of dollars).

An employee told police the power theft took place at night, with the machines switched off during the day to avoid detection.

The investigation is ongoing, and police are preparing arrest warrants for suspects.

In August 2024, Thai authorities shut down an illegal bitcoin farm after local residents complained of frequent power outages.