Cartel Crypto Farm Found in Mexican Mountains
Police uncovered 300 graphics processing units in a remote site. The operation is the fourth found in the region since last year.
Authorities in Puebla state seized 300 graphics processing units from a clandestine mining facility. The site also contained 80 medium-voltage terminals and eight satellite antennae. Police located the operation in the Sierra Norte mountain range. The equipment was powered by an electrical grid drawing significantly more energy than local residential demand.
This is the fourth crypto farm discovered in the area since early last year. Residents reported hearing mechanical noise from one kilometer away. The facility was situated next to a gravel road in a dense forest. Investigators suspect the group used the site to launder illicit funds through coin generation.
Rising Global Illicit Volumes
Chainalysis reports that illicit cryptocurrency transactions more than doubled in 2025. Wallets linked to criminal activity received an estimated $154 billion. This figure represents a sharp increase from $59 billion in the previous year. The firm attributes the surge to sanctions evasion and payments involving sanctioned governments.
Latin American criminal groups are expanding their use of digital assets. They are increasingly using mining operations to process money. According to GN markets/crypto (en-US), these groups leverage remote locations with low energy costs or access to stolen power. This infrastructure allows them to compete with commercial miners globally.
Energy Costs and Margins
Electricity remains the primary operational cost for mining. The University of Cambridge estimates the energy cost to mint one bitcoin at nearly $45,000. The current market price for one bitcoin is approximately $78,000. This price differential creates a substantial profit margin for operators.
Experts note that stealing electricity eliminates the main expense. Authorities are investigating whether the Puebla farm tapped into a nearby hydroelectric dam. If confirmed, the energy cost for the operation would drop to near zero. This dynamic makes the activity highly lucrative for well-financed criminal organizations.
Remote Hiding Spots
The Sierra Norte region offers dense vegetation and scattered communities. These conditions provide cover for large-scale infrastructure. The proximity to a hydroelectric source further supports the energy needs of such sites. Three other similar farms were found near this dam last year.
