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Bloomberg: Iran Will Shut Down Crypto Mining Until March 6, 2022
Summary: According to a report from Bloomberg, Mostafa Rajabi Mashhadi, chairman and general manager of Iran’s Power Grid Management Company (Tavanir), stated that Iran has ordered the closure of authorized cryptocurrency mining centers for the second time this year as part of efforts to relieve pressure on the country’s power plants and avoid power outages. The ...
According to a report from Bloomberg, Mostafa Rajabi Mashhadi, chairman and general manager of Iran’s Power Grid Management Company (Tavanir), stated that Iran has ordered the closure of authorized cryptocurrency mining centers for the second time this year as part of efforts to relieve pressure on the country’s power plants and avoid power outages. The ban will last until March 6, which can release 209 megawatts of electricity for consumption in the household sector.
In the context of international sanctions, this move may affect Iran's financial situation, because crypto mining has always been an important source of fiscal revenue.
Mashhadi added that the authorities are still cracking down on illegal mining. These private or corporate unlicensed operators account for the largest share of crypto mining in the country, consuming more than 600 megawatts of electricity.
Iran banned crypto mining earlier this year due to a series of power outages in major cities. The government blamed the surge in energy-intensive industries such as crypto mining.
By Mary Liu
Tags: Crypto Mining,Iran
Link: Bloomberg: Iran Will Shut Down Crypto Mining Until March 6, 2022 [Copy]
