Mining

Crypto miners in Iran will face power cuts, official warns

June 24, 2019, 5:10AM EDT

Cryptocurrency miners in Iran will be detected and face power cuts, an official from the country's state-run power generation and transmission company Tavanir, has warned.

According to a report from Iran Front Page (IFP) News, Mostafa Rajabi Mashhadi has said that it is illegal to use the national grid for cryptocurrency mining. Mashhadi also said that Iran's electricity consumption in May had increased by 7 percent year-on-year and that cryptocurrency miners were the main reason.

Earlier this month, Iran's deputy energy minister Homayoun Haeri also said that power bills for cryptocurrency miners should not be subsidized by the state, as the government pays nearly $1 billion in subsidies annually to reduce energy costs for consumers.

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