11 hrs ago
Hidden crypto farm in Puebla spotlights cartel funding frontier
Police found a hidden building in Mexico filled with hundreds of powerful computers.
The computers were being used to create cryptocurrency, such as bitcoin.
Mining cryptocurrency uses a lot of electricity to run and cool the machines.
The building was in a remote mountain area of Puebla.
Investigators suspect electricity may have been taken from a nearby hydroelectric dam.
They are also examining whether the operation was connected to money laundering by organized crime groups.
Experts say criminal groups are becoming more interested in cryptocurrency.
However, officials have not publicly confirmed who operated the farm.
Three similar farms were found nearby last year.
Authorities found 300 graphics processing units, 80 medium-voltage terminals and eight satellite antennas at a suspected crypto-mining site in Puebla.
The operation was hidden in the Sierra Norte mountains, where its machinery could reportedly be heard about one kilometer away.
Investigators are examining whether the farm stole electricity from a nearby hydroelectric dam to reduce operating costs.
It is the fourth crypto farm discovered in the area since early last year, according to local authorities.
Experts say organized crime groups may be using cryptocurrency mining and transfers to launder illicit funds, though the investigation remains active.
- Who
- Mexican authorities, cryptocurrency experts and local residents are involved; the operators have not been identified.
- What
- Authorities discovered a clandestine cryptocurrency-mining farm suspected of potentially supporting money laundering and electricity theft.
- Where
- The operation was found near Tlaola in the Sierra Norte region of Puebla, Mexico.
- When
- The farm was reported on September 12, and three similar sites were found in the area last year.
- Why
- Investigators suspect the site may have used stolen electricity and cryptocurrency activity to support illicit financial operations.
Key facts
- Location
- Sierra Norte region, Puebla state, Mexico
- Equipment found
- 300 graphics processing units, 80 medium-voltage terminals and eight satellite antennas
- Nearby infrastructure
- A hydroelectric dam that investigators are examining as a possible electricity source
- Local discoveries
- The site was the fourth crypto farm found in the area since early last year
- Estimated Bitcoin mining cost
- Nearly $45,000 per bitcoin, according to the University of Cambridge’s Bitcoin Electricity Consumption Index
- Reported Bitcoin price
- Around $78,000 at the time of the report
- Illicit crypto transactions
- Chainalysis estimated that addresses linked to criminal activity received $154 billion in 2025, up from $59 billion the previous year
Quotes
David Saucedo
Mexico-based security analyst
“These locations will have very cheap electricity, or be in an area under the influence of organized crime so they’re able to steal electricity and establish a large infrastructure to mine cryptocurrency”
theprint.in
“If they were stealing the electricity, the main costs of the operation would be, well — nothing”
theprint.in
Sources
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