🇲🇽 Mexican authorities busted an underground crypto-mining farm in Tlaola, in the Sierra Norte of Puebla: a transformer, 80 medium-voltage terminals, 8 satellite internet antennas, and around 300 GPUs illegally hooked up to the power grid of the Necaxa hydroelectric dam (CFE).

The operation was carried out by the Attorney General's Office, the Navy, and state police. Crypto mining itself is legal in Mexico - the probe centers on power theft, with money laundering also under investigation.

Experts note similar schemes are used by the Sinaloa Cartel, converting fentanyl profits into crypto through underground Chinese exchange houses.

Illegal grid connections cost CFE 13.8 billion pesos between January and July 2024 alone.

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