“The Iranian Authorities have ordered the shutting down of the Crypto Mining operations in Iran as the electricity demand increases in the winters in Iran and thus to prevent the blackouts, these energy hungry hardware must be unplugged.”
The Iranian Authorities have ordered the shutting down of the Crypto Mining operations in Iran as the electricity demand increases in the winters in Iran and thus to prevent the blackouts, these energy hungry hardware must be unplugged. This is the second temporary crypto mining ban in Iran after summers this year. The mining operations were allowed to resume in September and again they are to be shut down now.
This has created a resistance against the authorities as crypto mining was legalized in Iran in 2019 and a very few miners registered them as legal miners due to high cost electricity charged to the miners, whereas most of the miners remain underground and mine using the household electricity. The legalized miners claim that it is unfair from the authorities to shut down the mining operations as only 300 MW of electricity is consumed by the legalized miners per day in comparison to 3000 MW by the illegal miners.
Tavanir, the Iran Power Generation, Distribution and Transmission Company this year has confiscated over 220,000 mining machines and about 6,000 illegal crypto farms have been shut down this year. Iranian Authorities are also fining the illegal miners caught to damage the power grid system of the country. The date of expiry of Ban has not been conveyed, but it will definitely go on for a couple of months for sure.
Disclaimer: The article is just to provide information and shouldn’t be considered as any financial advice. It is advisable to conduct thorough research before investing in any cryptocurrency.
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