Iran's crypto miners draining illegal electricity from country's national grid
TEHRAN, Iran, July 1
Crypto currency miners in Iran that illegally use cheap electricity from the country's power network will be identified and fined for the inflicted damages, said spokesman of Iran's electricity sector.
"Miners of crypto currency profit from the cheap electricity, and that is an issue," said Mostafa Rajabi Mashhadi, Trend reports citing IRNA.
"Iran's Power Generation, Transmission and Distribution Management (Tavanir) aims to draft solutions to confront this issue, and certain directions will be given to the country's distribution companies," he said.
"It has been expected that the individuals who abuse the electricity for their gain will be identified charged for the damages. It would serve a lesson to others, to prevent further illegal use of electricity," he said.
"A total of 72,000 kilowatt electricity is consumed for mining one unit of crypto currency that is equal to consumption of 28 normal users and continuing this approach would be dangerous," he added.
"It has been predicted that if the following approach continues by crypto currency miners they would consume more than 2,000 megawatt of electricity," he said.