The Iranian Power Generation, Distribution and Transmission Company (Tavanir) stated that it expects Iranian cryptocurrency miners to resume operations on September 22. Financial Tribune, With the decline in demand for the country’s power grid.
Earlier this year, the Ministry of Industry, Mines and Trade temporarily banned cryptocurrency mining because it was concerned that energy-intensive processes might cause power outages due to the increase in overall power consumption during the summer months.
The Financial Tribune reported that Iran only plans to lift the ban on 30 licensed mining operations in the country. Therefore, other miners may still face legal consequences without proper permits or failing to pay the required taxes.
But this does not seem to be a deterrent. The “Financial Tribune” stated that “unlicensed miners use nearly 2,000-3,000 megawatts of electricity every day, which is equivalent to half of the total daily electricity consumption of Tehran” and “damaged the power distribution system”.
According to reports, Tavanir stated that unlicensed miners caused approximately US$4.26 billion (180 trillion rials) in damage to their equipment and helped the Iranian government confiscated 212,373 mining equipment in the past 12 months.
Iran is not the only country concerned about the power consumption of cryptocurrency mining operations.China has made its efforts to reduce its environmental impact as part of its cause Close the cryptocurrency mineFor example, American groups have Also attracted attention Regarding energy use in mining.
It is not the only country that destroys mining equipment to combat unlicensed mining: Malaysian police $1.6 million worth The number of Bitcoin mining equipment decreased in July because their owners were stealing electricity to power their operations.