Iran halts mining of cryptocurrencies approved to save electricity during winter

As Iran's winter electricity consumption rises, the regional power company has decided to shut down its cryptocurrency licenses.

Mostafa Rajabi Mashhadi, chairman and CEO of the Iranian power grid management company (Tavanir), announced that Iran would once again close its crypto mining facilities to reduce liquefied oil as gold falls. power stations.

According to a December 25 Radio of the Islamic Republic of Iran (IRIB) report, according to Mashadi, Iranian authorities took this action last month to reduce electricity consumption.

“Since last month, the Energy Regulatory Commission has taken steps to reduce fuel consumption at power plants, including reducing fuel consumption for licensed facilities. Crypto farming, shutdown of lights in low risk areas and health care, ”he said. . "

The leaders spoke about the importance of energy conservation in Iran and called on the audience to reduce energy and gas consumption as much as possible. According to local reports, 70% of the fuel used in Iran is used for home heating. According to the report, the new electric meter is expected to reduce electricity consumption by at least 40%.

While banning licensed cryptocurrency miners, the Iranian government is also working to crack down on illegal cryptocurrency miners. In late November, the city's Electricity Authority announced that a total of 222,000 mining equipment used to mine illegal cryptocurrencies had been seized following trade regulations.

Iran is one of the largest cryptocurrency mining countries in the world and accounts for 4.5-7% of the global Bitcoin market. In the past, the state has announced a temporary ban on the use of cryptocurrency mining in the summer, citing a historic spike in demand for electricity from both heat and cold. The ban was lifted in September when Iran's power line became more stable.