Mexican authorities probe massive crypto mining operation linked to large-scale electricity theft

Investigators in Puebla discovered a clandestine cryptocurrency mining farm in the municipality of Tlaola, where roughly 300 GPUs were connected to a dam within a federal hydroelectric complex, prompting a broader inquiry into energy theft. Francisco Sánchez, head of the state Public Security Secretariat, said the operation's high power draw and noise led authorities to the remote location. The Federal Electricity Commission, the Attorney General’s Office and the Navy are now examining neighboring towns for similar setups.

CFE data show non-technical losses of 6,346 GWh between January and July 2024, valued at about 13.8 billion pesos. Seized assets included transformers, medium-voltage terminals, satellite internet antennas and the mining hardware. Investigators have not excluded money-laundering motives, noting the growing use of crypto by criminal groups. The case arrives as Mexican officials intensify efforts to curb power theft and scrutinize crypto’s role in organized-crime financing.