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04.11.25 - 12:33
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95% Of Iran′s 427,000 Active Crypto-Miners Operate Illegally, Official Says (ZeroHedge)
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95% Of Iran's 427,000 Active Crypto-Miners Operate Illegally, Official Says
Authored by Amin Haqshanas via CoinTelegraph.com,
Iran's crypto mining industry is facing a widespread illegal mining crisis, with authorities estimating that over 95% of the country's 427,000 active mining devices are operating without authorization.
Akbar Hasan Beklou, CEO of the Tehran Province Electricity Distribution Company, said on Sunday that Iran has become the world's fourth-largest crypto mining hub, fueled by the country's heavily subsidized electricity prices, which have made it a “paradise for illegal miners.”
These unlicensed operations consume more than 1,400 megawatts of power around the clock, placing immense pressure on the national grid and threatening the stability of electricity supplies.
Beklou noted that most illicit miners disguise their activities as industrial facilities to access cheaper power.
Iran's cheap cost of mining Bitcoin. Source: Bitcoin Archive
Iran shuts down 104 ille...
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