Iran Grid Management Decides To Shut down Crypto Mining Firms


Iran, chairman of grid management, has recently made a bitter decision to save energy while affecting crypto mining companies.

Iran is one of the centres of crypto mining companies. However, these recent years have proved that Iran is no longer friendly with crypto mining companies as mining companies face power outages. Although it is not about failure or any restrictions on the Iranian power supply, it is about the lack of adequate power generation for basic domestic needs.

Mostafa Rajabi Mashhadi, board chairman and managing director of Iran Grid Management Company (Tavanir), said the company had decided to cut power from all recognized crypto mining companies to save on liquid fuels due to high power consumption.

Concerning this, The Islamic Republic of Iran Broadcasting (IRIB) published the news on December 25. According to the report, the decision was already made a month ago by Mashhadi to save fuel in the coming months.

Mashhadi said that;

The Energy Ministry has been taking steps since last month to reduce the use of liquid fuels in power plants, including reducing the supply of electricity to licensed cryptocurrencies mining companies, turning off lamp posts in low-risk areas, and strictly monitoring consumption.

However, the executive also appealed to Iranian citizens to reduce their energy consumption to save electricity for a better future.

According to the report, this winter, 70% of homes in Iran use electricity to heat their room/home. But the company’s new measures could help reduce this consumption by 40%.

While such restrictions are imposed on authorised crypto mining companies, the Iranian government is also trying to catch hold of all illegal crypto miners in the country. At the end of November, the energy company announced that it had seized 222,000 mining machines that were planned to be deployed for illegal crypto asset mining.

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