Iran Suspends Crypto Mining Until First Week Of March 22
For the second time this year, Iran is taking actions affecting crypto mining operations in the country.
According to a Bloomberg report, the country is will suspend authorized crypto mining until March 6 to avoid blackouts and save power in the coming winter months.
It is expected that by taking these measures, Iran will free up 209 megawatts of power for use by the country’s households. This according to Mostafa Rajabi Mashhadi, the director of state-run Iran Grid Management Co., in an interview with state television.
Mashadi added that meanwhile, the government will be cracking down on illegal crypto mining by individuals and larger operators. Combined, these groups consume more than 600 megawatts of electricity, he said.
In the past summer, Iran took similar precautions as an unusually dry spring caused hydropower shortages in the country.
With cryptocurrency mining revenues being an important income for the Iran state, the temporary halt on mining will affect its finances amidst the current international sanctions that are still being upheld.
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Source: igaming
