Sunday, December 10, 2023

Iran orders a complete ban on crypto mining

Authorized crypto mining centers will once again have to shut down temporarily following an order from the government. The order came as a result of the strain that’s being experienced by the power plants in the country. Experts in the government believe letting the authorized crypto mining centers run may result in blackouts. The order was announced publicly by a power industry spokesman and the director of Iran Grid Management Co., Mostafa Rajabi Masshadi.

Masshadi stated in an interview to state television that the ban is set to continue until early March, and it will allow 209 megawatts worth of power to be freed up for household sector consumption. He also added that the authorities in Iran are stepping up their efforts to crack down on individual and large-scale illegal crypto mining activities. According to estimates, illegal crypto miners consume over 600 megawatts of power.

The Iranian government will also take certain other fuel-saving measures, such as switching off street lights in certain areas and regulating the consumption of electricity across offices. Masshadi said that 60% greater production of electricity is expected by the government in the summer.

Earlier in 2021, the authorized mining centers were asked to halt their operations after multiple blackouts, which experts believed were a result of excessive energy consumption by crypto miners. Illegal mining has also increased in Iran due to the brutal crackdown initiated on crypto mining by the Chinese government. Before the crackdown, China was the world’s leading crypto mining hub. However, following it, miners based in China have been forced to move to greener pastures like Kazakhstan, Iceland, and Iran.

Cryptured Team
Cryptured Team
The writers team at is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.

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