Iran bans cryptocurrency mining during summer

0 599

Iran bans cryptocurrency mining during summerIranian authorities have banned cryptocurrency mining during the summer season and until September 22, before the peak electricity demand season, to avoid power outages in major cities due to an expected power crisis.

According to a Bloomberg report citing an official statement by Iranian President Hassan Rouhani, nearly 85% of the country’s crypto-mining farms are unlicensed. Iranian authorities have intensified their monitoring of illegal mining activities in the area.

Subsidized energy has made Iran a hub for crypto-mining activities. According to the latest data from blockchain analytics and crypto compliance solution provider Elliptic, Iran accounts for approximately 4.5% of all bitcoin mining worldwide.

In January 2021, Iran launched an illegal crackdown on crypto-mining farms in the country, shutting down more than 1,600 unauthorized units. Tavanir, the state-owned power generation, distribution and transmission company in Iran, has reported that the country’s crypto-mining farms are causing huge losses to energy distributors. has no relation whatsoever with Metaquote and we have no responsibility regarding their products offered by our Sponsors.

Seize the chance to earn real money instantly!
Take 4 simple steps along the path to success and financial independence
Open a trading account
Beginner traders can start their career in forex Practice on a demo account
Download - Powerful, reliable and proven trading platform
System requirements: Windows 7 and later versions
platform for Android
System requirements: Android 4.0 and above, 3G/WiFi
platform Ctrade for iOS
System requirements: iOS 4.0 or later, 3G/Wifi
Deposit to your trading account through any convenient payment system
Great bonuses guarantee your confident start in trading
Bonuses are added ranging in size From 20% to 50% to your account every time you make a deposit
Related topics
Inline Feedbacks
View all comments