Iran has closed more than 1,600 mining farms since July 2019

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The Iranian authorities, in cooperation with local energy company Tavanir, have closed 1,620 illegal mining farms since July 2019, which consumed more than 250 MW of electricity.

In July 2019, mining of cryptocurrencies in Iran was recognized as an industry. Initially, mining farm operators embraced the legalization of cryptocurrency mining with enthusiasm. However, electricity tariffs for miners turned out to be too high, so cryptocurrency mining companies “went underground.” The authorities did not put up with this and began to fight against illegal mining farms.

“Tavanir is tough on illegal mining. Those who use subsidized energy, such as unlicensed miners, will be punished with a fine equal to the damages caused to the national grid. Cryptocurrency mining sites will be disconnected from the power grid, and operators will be prosecuted, ”said Mostafa Rajabi Mashhadi, deputy managing director of Tavanir.

Recall that in November 2019, the Iranian authorities offered monetary rewards to citizens who report the illegal mining of cryptocurrencies. For help in identifying an unlicensed farm, a citizen will receive up to 20% of the fine.

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