The electrical energy of authorized crypto mining units will be cut off from the beginning of the next Iranian calendar month ‘Tir’ until the end of the restriction, according to Mostafa Rajabi Mashhadi, the Iranian Energy Ministry’s spokesman for the electrical energy sector.
There are currently 118 permitted bitcoin mining units in the country, all of which must disconnect from the national grid by the beginning of next month, according to Rajabi Mashhadi.
According to forecasts, the nation’s electrical energy consumption reached a record 62,500 megawatts (MW) during peak consumption last week, which is a significant figure, he said.
Furthermore, he added that the consumption requirement this [Iranian calendar] week (which ends on Friday) will exceed 63,000 MW, implying a limited supply of electrical energy.
Also Read: Iran To Increase Punishment for illegal Crypto Mining.
Following the Iranian government’s approval of cryptocurrency mining as a commercial activity in 2019, a number of companies began mining cryptocurrency across the country, owing to the country’s extremely low-cost electricity, and now Iranian energy plants have begun to see this business as a way to increase their revenues.
Over 1,000 permits for cryptocurrency mining units were awarded by the Ministry of Industry, Mining, and Trade in January 2020.
In addition to approved units, some unlawful miners have begun mining bitcoin using household electricity, causing major challenges for the country’s electrical energy industry, which is already coping with severe issues caused by drought and reduced rainfall.
Also read: Argentina blames Crypto Miners For Power Scarcity
