Police raided an illegal Bitcoin mining factory stealing electricity in Thailand.

Cops and electricity officials descended on the three-storey building where dozens of energy-intensive crypto mining machines were found in Chonburi province on December 16.

They swept through the premises and discovered 60 Bitcoin machines stored in a room. The walls were lined with eggshell cartons used as makeshift soundproofing, and ventilation fans to keep the room cool.

Authorities had flagged the commercial building after finding that its electric consumption was suspiciously low.

Rungroj Chanmanit, manager of the Chonburi Provincial Electricity Authority, said: 'The estimated damage was around 200,000 baht (4,600 GBP) per month, but the electricity bill was paid only 2,000 baht (46 GBP). We need to check how long this has been going on.

'The electricity meter was modified to make the electricity bill cheaper. This is an offense under the charge of stealing government property, in this case electricity.'

Police have cut off the power supply and seized the machinery.

Building owner Pichai Kanchanathanyarat identified the renter as a certain Peerasak. He claimed he did not know how long Peerasak has been renting the space as his wife handled the transactions.

Authorities said they would review the rental agreement and pursue criminal action against the builiding owners if they were found to be involved.

Cryptocurrency prices have been surging after President Trump's victory in the U.S. elections. Bitcoin surged to a record 106,877 USD on December 16 after he reiterated plans to create a U.S. Bitcoin strategic reserve.

Trump was initially skeptical of crypto, but has since changed his stance and vowed to make the U.S. the 'crypto capital of the planet'.

Analysts have attributed the gains to anticipated crypto-friendly policies that Trump's term would bring. The price was also boosted by the involvement of long-time Bitcoin supporter Elon Musk, who campaigned for President Trump and has been rewarded with an influential post at the newly-created Department of Government Efficiency, which is named after Doge coin.