Iran has shut down 1,620 illegal mining farms

Iranian authorities shut down 1,620 illegal cryptocurrency mining centers, which together consumed 250 MW of power, the Financial Tribune reported.

According to a spokesman for state energy company Tavanir, these farms have continued to operate illegally since 2019, when mining was legalized in the country.

„Tavanir is strict about unauthorized miners. Those who use subsidized electricity will be fined the amount of the losses caused to the national grid,“ Mostafa Rajabi Mashhadi said.

Their mining sites will be disconnected from the power grid and the miners will be prosecuted, he added.

Mining was legalized in Iran in July 2019. However, not all industry participants were satisfied with the proposed tariffs and continued to use subsidized electricity.

In July 2020, the Iranian government required miners operating in the country to register within a month, disclosing their identity, type and amount of equipment installed. Authorities allowed power plants to operate with mining centers of the Bitcoin Revolution review as long as they had a license and complied with established tariffs.

Recall that in August, Tavanir reported the closure of 1,100 mining farms whose owners had not applied for a license.