Iran to Shut Down Crypto Mining Farms As Energy Crisis Deepens
During the previous two years, authorities in Iran have shut down around 6,914 unregistered crypto companies. Authorized crypto mining plants in the Islamic Republic will be required to disconnect their energy-hungry coin minting devices on the 22nd of June this year, or the beginning of the Iranian month of Tir. Since 2020, when the administration […]
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Since Iran began recognizing cryptocurrency mining as an industry, it has reportedly shut down 1,620 unauthorized crypto mining farms. Crypto miners initially welcomed the recognition but later said that the electricity tariffs were too high. 1,620 Crypto Mining Farms Shut Down in Iran Iranian authorities have reportedly closed down 1,620 illegal cryptocurrency mining farms since the country started recognizing cryptocurrency mining as a legal industry in July 2019. The Financial Tribune reported Monday that these mining farms were using 250 megawatts of electricity. Many of the....
The Bitcoin mining sector has been impacted by BTC’s price downside price action. This has forced BTC miners to reduce their inventories, which could lead to constant selling pressure on the crypto market and reduce their leverage positions. Related Reading | Iran to Shut Down Crypto Mining Farms As Energy Crisis Deepens Publicly traded BTC mining […]
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....
Crypto mining surfs a hefty amount of electricity and has become a major cause of the electricity crisis in some regions like Iran, Kosovo, etc. Similarly, after the Iranian government saw power blackouts last summer, it put the state’s police on their toes, which detected and ceased 9,404 mining farms in the previous five months. […]
Authorities in Iran have shut down close to 7,000 unauthorized facilities for cryptocurrency mining in the past two years, local media revealed. According to a report, most of the illegal bitcoin farms were concentrated in five provinces of the Islamic Republic, including Tehran. Iran Continues Crackdown on Unlicensed Cryptocurrency Mining Iranian officials have unplugged and disbanded a total of 6,914 crypto farms operating without a mining license. This since authorities started clamping down on the illegal extraction of cryptocurrencies in 2020, the English-language Iranian daily....