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Iran continues crackdown illegal cryptocurrency mining

Finance Materials 18 August 2021 15:52 (UTC +04:00)
Iran continues crackdown illegal cryptocurrency mining

TEHRAN, Iran, Aug.18

Trend:

Iran has discovered 212,373 illegal crypto currency mining hardware, said the managing director of Iran Grid Management Company.

The consumption of new hardware devices is equal to the power consumption of 1,343 housing units per day, said Mostafa Rajabi Mashhadi, Trend reports citing IRNA.

"The power consumption of these illegal devices is equal to 800 megawatts that could cover three provinces in the country," he noted.

Mashhadi indicated the electricity of subscribers who illegally used electricity for crypto currency mining will be cut until the judiciary decided on their situation.

"These subscribers are having power supply limitation in current situation and have to put out the equipment and apply for legal permits from the Ministry of Industry, Mine and Trade and power companies," he noted.

The official recommended people reduce power consumption during summer to ensure sustainable power network and distribution.

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