Police have raided 50 Bitcoin mines suspected of stealing electricity worth an estimated 14.4 MILLION dollars.

The Department of Special Investigation (DSI) launched operation 'Electric Shock,' uncovering dozens of alleged illegal cryptocurrency factories in Bangkok and Nonthaburi province on November 30.

Officials raided 40 commercial buildings in the two locations and found computers being used for the large-scale, energy-intensive operation.

Mine operators allegedly skirted electric charges by not using the proper electric digital multimeter, with each building only paying between 300 to 2,000 THB (around 8.6 to 58 USD) per month.

The DSI later found 10 more crypto mines linked to the electricity theft.

DSI Chief Traiyarit Temahiwong said: 'Our initial investigation found that the owner of these buildings is a Thai citizen. We will proceed to prosecute that person even if we find the network is linked to foreign investors or Thai government officials.'

He also said there were more than 30 computers found in each building, most of which were from China where cryptocurrency is banned. The machines were reportedly on 24 hours a day, increasing the risk of a fire.

The total revenue loss was estimated to be about 500 million THB (around 14.4 million USD) as the power usage was comparable to that of an industrial factory.

The DSI said it will proceed with its investigations and urged building owners and tenants to report any suspicious activity to authorities.