Iran licenses 30 crypto mining farms to operate

So far, the Iranian authorities have licensed 30 crypto mining facilities to operate. Cryptocurrency farms are popular in several areas, including Tehran Province. The government has released data on the background of its crackdown on illegal miners in the country.

Iran licenses 30 crypto mining farms to operate – a third of which are based in two provinces, Tehran and Alborz

Iran’s Ministry of Industry, Mining and Trade has licensed 30 cryptocurrency mining centers, according to a source in the Financial Tribune. One of these mining farms is located in Tehran Province, where the country’s capital is located.

The province of Semnan, an administrative district east of Tehran, is home to the most licensed operations with six crypto farms. It is followed by the province of Alborz with 4 provinces, followed by the provinces of Mazandaran, East Azerbaijan and Zanjan.

In addition, the ministry has issued 2,579 permits for the establishment of new industrial plants in the Islamic Republic, including 305 in Zanjan Province. The province of Fars with 262 permits and West Azerbaijan with 247 permits are in second and third place, according to the Iranian English-language daily newspaper.

Iran approved mining of cryptocurrencies as a legal activity 2 years ago. The government has put in place a licensing system for companies wishing to enter the industry. A report showed that 14 bitcoin farms operated with such licenses last summer.

However, the Iranian Front, Iranian President Hassan Rouhani, banned the mining of digital currencies until the end of September because it puts a heavy load on the national power grid.

According to Bloomberg, the deadline for entries is September 22nd Rouhani is quoted as saying: “Authorized cryptocurrency mining does not use a lot of electricity and only needs about 300 megawatts. But unauthorized cryptocurrency miners “use a lot of electricity; they consume around 2,000 megawatts. “

In addition, around 85% of cryptocurrency mining is unlicensed. The latest ban therefore includes authorized miners, but according to Bloomberg, the ban could push them into the black market. Meanwhile, analysts Elliptic estimates that Iran owns 4.5% of all Bitcoin (BTC) mining. In a high percentage, officials have blamed the popularity of the cryptocurrency and its mining for the persistent power outages, as well as the drought and increased production.

Illegal cryptocurrency mining farm discovered in Tehran

Tehran’s police chief Hossein Rahimi announced that Iran’s largest mining farm had been discovered in an abandoned factory west of the country’s capital.

“The largest cryptocurrency mining in the country with 7,000 crypto-producing devices was found in the west of Tehran, which has a major impact on the power shortage,” Rahimi was quoted by the IRNA news agency as saying. .

He said that this illegal farm consumes about 4% of Iran’s electricity, adding that police had also confiscated 3,000 other mining equipment in other parts of Tehran.

Earlier, Iranian Energy Minister Reza Ardakanian announced that all legal mining facilities would be closed on September 22nd, as illegal cryptocurrency mining has brought the power industry to the brink of crisis.

He said Iran was facing a wave of widespread power outages, adding that crypto mining in the country had consumed 2,000 MW.

Iran temporarily mined cryptocurrencies after several major cities in the country suffered multiple power outages. The water consumption exceeds 61,000 megawatts, which could lead to further blackouts.

Tehran also harasses illegal miners, accusing them of burning more than 2,000 megawatts a day. According to the state energy company Tavanir, the country’s electricity deficit is 5,000 megawatts. Finally, Iran decided to turn off all cryptocurrency mining by September 22nd.

In one year, Iranian law enforcement officials closed more than 180 crypto farms in Tehran alone. In early June, authorities confiscated 3,000 mining equipment from illegal companies. Iranian police seized 7,000 bitcoin mining machines last week.

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