Mexican authorities seize illegal crypto mining site in mountainous area

ChainCatcher report, according to Reuters, Mexican authorities have dismantled an illegal cryptocurrency mining operation in a remote mountain building in Tlauh, Puebla State, where they discovered 300 GPUs, 80 medium-voltage terminals, and eight satellite antennas. Authorities are investigating whether the site stole electricity from a nearby hydroelectric plant. This is the fourth such crypto farm found in the region since early last year, following three others discovered near hydroelectric stations in northern Puebla. Local residents say the noise from the equipment can be heard up to one kilometer away. Mexican security analyst David Saucedo stated that drug cartels appear to have reached a new level of sophistication, as establishing such operations requires technical expertise and support from well-funded organizations. Chainalysis Latin America expert Caio Motta noted that these illicit sites are typically located in areas with extremely low electricity prices or under the control of organized crime groups, enabling them to steal power and build large-scale mining infrastructure.