Argentine Officials Rush Illegal BTC Mining Farm in ‘Luxury Apartments’

Source: Phonlamaiphoto/Adobe

The Argentinian tax authorities crackdown on unregistered crypto mining extends to residential properties. Officers shut down an illegal bitcoin (BTC) mining farm in an “upscale” apartment building in an upscale neighborhood of La Plata, in the province of Buenos Aires.

Earlier this month, the tax authorities – known locally as AFIP – raided a livestock and grain farm, where they found some $20 million worth of coin mining equipment.

But the latest bust saw officers raid the apartment, where they said they found working, unregistered bitcoin mining rigs connected to the internet. The platforms, according to AFIP, had been concealed inside a “container” concealed on the terrace of the complex.

Officers said the hardware included some 180 “video cards used for Bitcoin mining.” They claimed the market value of the equipment was “over $45,000,000”. They also claimed that the crypto-mining rigs had been operational “for more than eight months” before they were discovered.

The mastermind of the farm appears to have been the owner of the complex, with the tax body saying the ‘property owner’ was ‘under investigation’.

But the AFIP found that the electrical outlets on the terrace had been registered “in the name of a third party”, a “maneuver which helped to conceal the farm”. Ambito reported.

The raid was carried out in collaboration with the La Plata Regional Directorate of the General Directorate of Taxes.

Crackdown on unregistered Argentinian crypto miners

Officers said they were investigating “activity” at “two other addresses” to see if a connection could be established.

AFIP raids this year have also seen the tax authority intercept an illegal shipment of crypto-mining rigs hidden inside a shipping crate full of cattle prods and children’s toys.

They also ran into a farm in San Juan province where the miners had hidden their rigs in an area set aside for cooling fruit.

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