Iran Bans Bitcoin Mining Over Power Grid Concerns
Iran, which required bitcoin miners to obtain official authorization in the country, has now reportedly banned the practice.The government of Iran has announced a ban on bitcoin mining in the country until late September, according to Iran Front Page.This move, which was announced by the country's president, Hassan Rouhani, was necessitated by the huge burden placed on the national power grid by bitcoin mining activities in the country, per the report.“The authorized mining of cryptocurrencies does not consume much electricity and needs just around 300 megawatts," Rouhani said, according....
Related News
Authorities in Iran persist with their efforts to curb unauthorized cryptocurrency mining. The state-run power distribution company has recently identified over a dozen underground crypto farms in Tehran and other regions, unplugging hundreds of mining units illegally connected to the grid. Power Utility Busts 14 Crypto Farms in Homes Across Iran The Iranian government continues to crack down on unlicensed crypto mining operations. The state-owned Iran Power Generation, Distribution and Transmission Company, Tavanir, has confiscated 227 mining rigs last week. Its employees found the....
Authorities in Iran plan to unplug licensed crypto mining facilities as electricity consumption in the country is reaching record highs. The mining farms will be cut off from the grid on Wednesday, the Islamic Republic’s Ministry of Energy announced.
Legal Crypto Miners in Iran to Halt Operations Again Due to Electricity Shortages
Authorized crypto mining enterprises in Iran will have to unplug their power-hungry coin minting equipment from the beginning of Tir, the next month in the Iranian calendar, or Wednesday, June 22. Mostafa Rajabi Mashhadi, spokesman of the....
The extreme heat of the summer has subsided, so crypto mining has been given the green light as it can no longer be blamed for stressing the electricity grid. The Iranian government will allow licensed cryptocurrency miners to resume operations today following a three-month ban imposed by former President Hassan Rouhani on May 26th, 2021.The initial ban was put into effect due to concerns over the stability of the country’s unreliable power grid.The middle eastern country experienced widespread power outages in the summer, which former President Rouhani attributed to extreme heat. On some....
The country has ordered miners to shut down for the second time this year over blackouts concerns.
Authorities in Iran are continuing their crackdown on unauthorized cryptocurrency mining as electricity demand remains high. The country’s power utility company has so far closed down more than 5,300 illegal mining facilities, seizing an enormous amount of coin-minting machines. Power Utility Confiscates More Than 216,000 Mining Units From Unlicensed Miners in Iran Preventing blackouts remains a priority in Iran where electricity consumption is still higher than usual. Cryptocurrency miners, the majority of which are operating without authorization, have been blamed for electricity....