Iran identifies illegal cryptocurrency mining farms

Business Materials 25 January 2021 10:32 (UTC +04:00)
Iran identifies illegal cryptocurrency mining farms

BAKU, Azerbaijan, Jan. 25


The CEO of Power Generation and Distribution Company (known as TAVANIR) said that 80 percent of the electricity of the thermal power plants is generated through gas consumption, 14 percent diesel, and only 6 percent through Mazut.

“In January, due to the sudden increase in gas consumption in the domestic and commercial sectors, this trend changed so that now the combination of fuel composition of power plants has changed to 43 percent of gas, 41 percent of diesel and 16 percent of mazut,” the CEO of Power Generation and Distribution Company (known as TAVANIR) Mohammad Hassan Motevali-Zadeh said in a meeting today on Sunday, Trend reports citing IRNA.

“The total daily gas consumption of the domestic and commercial sector of the country is 620 million cubic meters,” he said. “About 145 million cubic meters of gas is required daily to meet the country's electricity needs in thermal power plants, while only 83 million cubic meters of gas were delivered to power plants daily in January, and the rest of the required fuel was supplied through diesel and mazut.”

Motavalizadeh asked people to reduce the temperature of the house or business center by 1 degree and turn off additional lights.

“Each 400-watt lamp consumes an average of 144-kilowatt hours of electricity per month, which is equal to the average electricity consumption of a household,” he said.

Referring to unauthorized cryptocurrency mining farms he says that the role of authorized cryptocurrency farms in electricity consumption should not be exaggerated.

"Currently, there are 24 authorized cryptocurrency mining farms in the country, which consume a total of 310 MW,” he said.

The CEO of Tavanir pointed out that a total of 1,600 illegal cryptocurrency mining farms have been identified, which saved more than 90 MW in electricity consumption.