Iran Seizes 45,000 Bitcoin Miners for Illegally Using Subsidized Government E...
Police in Iran have reportedly seized 45,000 bitcoin mining rigs for illegally using subsidized electricity from the state-owned power utility Tavanir, the local Tasmin News Agency reported this week. According to Mohammad Hassan Motavalizadeh, head of Tavanir, the efficient application-specific integrated circuit (ASIC) bitcoin miners had been consuming 95 megawatts (MW) per hour of electricity at cheaper prices. Authorized miners are charged around 4,800 rials ($0.11) per kilowatt-hour in autumn, winter and spring, says the Iranian Energy Ministry. Subsidized rates may be half as much.....
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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....
Iranian police have reportedly seized 7,000 bitcoin mining machines operating illegally in the country. The machines were found in an abandoned factory west of the capital. 7,000 cryptocurrency mining machines have been seized by Iranian authorities, state news agency IRNA reported Tuesday, noting that this is Iran’s largest seizure of cryptocurrency mining machines to date. Tehran police chief General Hossein Rahimi said that the mining machines were seized at an illegal mining farm — an abandoned factory west of the capital. Cryptocurrency mining is an authorized activity in....
The fines will reportedly triple compared to current rates, while repeated violations will lead to jail time. The Iranian government will increase penalties for the use of subsidized energy in crypto mining. The move marks another step in the tightening of mining regulation in the country that had faced energy shortages in recent years. On April 16, the Tehran Times reported, citing the country’s Power Generation, Distribution, and Transmission company, that the government plans to drastically increase the fines rates for the mining operators who use subsidized electricity. The company's....
Authorities in Iran have decided to permit power generation plants using renewable sources to sell electricity to licensed cryptocurrency miners. The move comes after the government asked mining companies to suspend activities in order to avoid winter blackouts. Crypto Miners in Iran to Mint Digital Coins Using Renewable Energy Regulated companies mining cryptocurrency in Iran will gain access to green energy, local media reported. The Ministry of Energy in Tehran has adopted new rules allowing plants generating electricity from renewable sources to supply coin minting enterprises that....
Iran has drafted new rules to increase penalties for illegal cryptocurrency mining in the country, including additional fines and imprisonment. “Any use of subsidized electricity intended for households, industrial, agricultural, and commercial subscribers for mining cryptocurrency is prohibited.”
New Penalties for Illegal Cryptocurrency Mining in Iran
An official with Iran’s Power Generation, Distribution, and Transmission Company (Tavanir) said the country’s administration will approve new rules to increase penalties for unauthorized....