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Iran Licensed Crypto Miners Suffers Power Shut Down

Iran_to_Shut_Down_Licensed_Crypto_Miners_in_Peak_Hours_of_Power
  • Iran pulls the plug on crypto mining farms whenever power consumption peaks.
  • Licensed crypto miners in the Islamic Republic utilize up to 300 MW daily.
  • Illegal crypto mining centers consume over 2,000 MW of electricity.

Iran pulls the plug on crypto mining farms whenever power consumption peaks. In order to maintain a stable electricity supply for other users. However, the measure deals with shortage that target licensed facilities despite the government admits that illegal crypto miners burn much more energy

Licensed Miners Use 300 MW, Illegal Farms Burn 2,000 MW

Licensed crypto miners in the Islamic Republic utilize up to 300 megawatts daily, as per ISNA news agency report. Mostafa Rajabi Mashhadi, who is the spokesman of the Iranian Ministry of Energy responsible for the electricity sector said this amount of electricity could be saved to maintain the stability and balance of the electric network.

Added to this, illegal crypto mining centers consume over 2,000 megawatts of electricity. Moreover, the Iranian government points out that these illegal works explain that such facilities are hardly connected with the grid. More so, this overloads transformers distribution and causes damage to the infrastructure.

Iran’s Electricity Shortages Amounts to 5,000 MW

Iran faces a daily shortage of electricity around 5,000 MW, as per Tavanir, the state-owned power utility. Moreover, the company CEO Mohammad Hassan Motevalizadeh listed crypto mining among many key factors making an imbalance in the system, also in climate and agriculture. Notably, low rainfall has surged the need for irrigation and reduced hydropower generation.

Motevalizadeh explained that authorized crypto miners will cut off from the grid during periods with high consumption. While Tavanir will work with other government institutions to deal with illegal mining operations. Moreover, he asked Iranians who want to get involved in the mining of cryptocurrency to do that after getting the necessary licenses from the government.

Furthermore, Mostafa Mashhadi called on vigilant citizens to report any illegal mining-related activities and unauthorized use of electricity. Even more, Tavanir’s website now adds a dedicated page for this purpose. Iranians who share verifiable data about unlicensed data centers will be rewarded said the Energy Ministry spokesman.

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Crypto trading has enticed Ananthi Reeta to write for CoinQuora. She consistently contributes news and feature articles. She has covered several different blockchain and crypto niches, especially altcoins.