According to The Financial Tribune , citing data from the Iranian state-owned electricity company Tavanir, from September 22, the Iranian government will allow cryptocurrency miners to resume their work in the country.
The Ministry of Industry and Trade of Iran at the end of May this year banned the mining of cryptocurrency in the country due to the excessive load on the power grid. The extremely high consumption of electricity for mining has already led to power outages in major cities of the country, and the new ban was aimed at preventing similar situations in the future. Then it was noted that the ban will last until September 22.
As explained by The Financial Tribune , the ban on crypto mining is lifted only for 30 licensed mining operators. The rest of the miners may still face criminal prosecution if they mine cryptocurrency without an appropriate license and paying taxes.
According to the source, the current ban does not greatly deter miners from their work. It is indicated that unlicensed miners consume almost 2,000-3,000 MW of electricity daily, which is equivalent to half the energy consumed by the Iranian capital, Tehran. This causes significant damage to the power system.
According to estimates by the state-owned electricity company Tavanir, unlicensed miners have brought about $ 4.26 billion in losses to the country's energy system. Over the past 12 months, the Iranian government has shut down 212,373 unlicensed cryptocurrency mining farms.
Iran is not the only country trying to restrict the actions of miners. China, concerned about the state of the local ecology, has previously also banned crypto mining in the country in order to reduce its negative impact on the environment. And the Malaysian government last July destroyed $ 1.6 billion worth of bitcoin mining equipment with road rollers. Their owners stole electricity from local power grids to mine cryptocurrency.
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