Iran Confiscates Over 9,400 Illegal Mining Rigs Operating In Tehran

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Iranian authorities seize 9,404 mining rigs from different districts of Tehran as the country suffers from power shortages throughout the summer. 

The head of Tehran Electricity Distribution Company, Kambiz Nazerian, stated the mining rigs “were dotted all over Tehran.” 

In May, Iran imposed a ban on crypto mining for four months to meet the nation’s electricity demands and curb the large amount of power consumed by mining rigs. Additionally, Iran’s Energy Ministry revealed its plans to cut power to 118 licensed crypto mining farms to prevent power blackouts in the middle of June.

The nation’s most notable crackdown on crypto mining happened in June when the Iranian police busted an illegal mining farm and confiscated over 7,000 mining rigs.  

Reports claim crypto mining is rising in Iran thanks to low electricity costs and highly subsidized power rates. As per the Cambridge Bitcoin Electricity Consumption Index, the nation contributed 7.5% to Bitcoin’s hash rate as of March 2022, with reports stating that the number has since gone down by 0.2%.

Unfortunately, illegal mining operations run rampant in Iran despite the licensed mining farms’ compliance with the rules. Moreover, illegal mining rigs are most commonly found in schools and local businesses where they operate on free electricity.

Every week, we publish compelling crypto stories in our newsletter. Subscribe now and get the latest crypto buzz delivered straight to your inbox. 

Written by
Ayush Pande

Iranian authorities seize 9,404 mining rigs from different districts of Tehran as the country suffers from power shortages throughout the summer. 

The head of Tehran Electricity Distribution Company, Kambiz Nazerian, stated the mining rigs “were dotted all over Tehran.” 

In May, Iran imposed a ban on crypto mining for four months to meet the nation’s electricity demands and curb the large amount of power consumed by mining rigs. Additionally, Iran’s Energy Ministry revealed its plans to cut power to 118 licensed crypto mining farms to prevent power blackouts in the middle of June.

The nation’s most notable crackdown on crypto mining happened in June when the Iranian police busted an illegal mining farm and confiscated over 7,000 mining rigs.  

Reports claim crypto mining is rising in Iran thanks to low electricity costs and highly subsidized power rates. As per the Cambridge Bitcoin Electricity Consumption Index, the nation contributed 7.5% to Bitcoin’s hash rate as of March 2022, with reports stating that the number has since gone down by 0.2%.

Unfortunately, illegal mining operations run rampant in Iran despite the licensed mining farms’ compliance with the rules. Moreover, illegal mining rigs are most commonly found in schools and local businesses where they operate on free electricity.

Every week, we publish compelling crypto stories in our newsletter. Subscribe now and get the latest crypto buzz delivered straight to your inbox. 

Written by
Ayush Pande