Iran Seizes 3,000 Crypto Mining Devices in a Week – Mining Bitcoin News

Iran Seizes 3,000 Crypto Mining Devices in a Week – Mining Bitcoin News

ban Bitcoin blackouts confiscation consumption crypto crypto mining Cryptocurrency Electricity equipment Hardware Iran Islamic republic Miners Mining mining farms mining rigs power seizures shortages Tavanir tehran Tehran Province
June 10, 2021 by admin
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Authorities in Iran have confiscated 3,000 items of mining {hardware} in only one week as a part of a push to curb unlawful crypto mining amid energy shortages and blackouts. In a single yr, Iranian legislation enforcement has shut down over 180 crypto farms in Tehran Province alone. Over 500 Crypto Mining Rigs Confiscated in
Iran Seizes 3,000 Crypto Mining Devices in a Week

Authorities in Iran have confiscated 3,000 items of mining {hardware} in only one week as a part of a push to curb unlawful crypto mining amid energy shortages and blackouts. In a single yr, Iranian legislation enforcement has shut down over 180 crypto farms in Tehran Province alone.

Over 500 Crypto Mining Rigs Confiscated in Tehran

As the federal government’s offensive in opposition to unauthorized crypto mining intensifies, authorities have found and seized greater than 3,000 items of mining tools, Iran’s energy utility introduced Wednesday. Over 500 gadgets have been confiscated in Tehran Province, the place legislation enforcement officers have already shut down 183 unlawful crypto farms with 11,000 mining items previously fiscal yr.

Iran Seizes 3,000 Crypto Mining Devices in a Week

One other 600 mining rigs have been present in Kerman Province, stated the Iran Energy Technology, Distribution and Transmission Firm (Tavanir) quoted by the Monetary Tribune. In accordance with the Iranian enterprise day by day, unlawful mining farms have been situated additionally within the provinces of Khuzestan, Mazandaran, Qom, and Bushehr.

The seizures of mining {hardware} come after Tavanir’s warning final week to unlicensed miners that its endurance was operating out. The state-owned firm known as on residents who mint digital cash of their houses to change off the mining tools. The facility utility emphasised that those that fail to conform might be reduce off from the grid when recognized and their mining rigs might be confiscated.

Tavanir Goals to Save 2,000 MW of Electrical energy Used Every day for Unlicensed Mining

Excessive cryptocurrency costs and sponsored electrical energy have pushed many Iranians in direction of crypto mining over the previous yr. And whereas the federal government has licensed a variety of entities to legally mint digital currencies within the nation, these solely account for round 300 megawatts (MW) of day by day electrical energy consumption. In accordance with Iranian authorities estimates, unlawful mining operations burn round 2,000 MW daily.

Iranian authorities have blamed this yr’s energy shortages and blackouts on low rainfall, increased electrical energy demand with rising temperatures, and in addition surging cryptocurrency mining. In Could, Tavanir stated even licensed miners could be shut down throughout peak hours of consumption to deal with a 5,000 MW day by day scarcity of electrical energy.

Iran Seizes 3,000 Crypto Mining Devices in a Week

Later that month, Iranian President Hassan Rouhani introduced a ban on digital coin minting till September. This week, Rouhani additionally known as for guidelines to control the crypto sector as Iran’s Economic system Minister Farhad Dejpasand warned that the federal government can’t stand in the way in which of crypto tech improvement for too lengthy.

Tehran authorities permitted cryptocurrency mining as a authorized business in the summertime of 2019. The Islamic Republic launched a licensing regime for bitcoin mining entities which had been obliged to pay their electrical energy payments at export charges. In April, rules had been revised and crypto miners have since been charged 16,574 Iranian rials ($0.39) per kilowatt-hour (kWh) of electrical energy, which is 4 occasions the preliminary charge.

What do you concentrate on Iran’s insurance policies in direction of cryptocurrency mining? Share your ideas on the topic within the feedback part beneath.

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ban, Bitcoin, blackouts, confiscation, consumption, Crypto, crypto mining, Cryptocurrency, Electrical energy, tools, {Hardware}, Iran, Islamic republic, Miners, mining, mining farms, mining rigs, energy, seizures, shortages, Tavanir, tehran, Tehran Province

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