Iran suspends 1,100 unregistered mining farms

The work of 1,100 mining farms in Iran was terminated by the decision of the national energy holding Tavanir. The ban on the continuation of cryptocurrency mining activities was received by companies that did not receive an appropriate license from the authorities.

In July, Tavanir said it would reward whistleblowers who list the names of miners who illegally mine crypto assets (the reward was $ 480). Despite all the actions taken by the authorities to monitor the situation, the population’s assistance provided significant support in identifying illegal electricity consumers. For example, the head of the energy holding Mostafa Rajabi Mashhadi said that some miners install their equipment in industrial and agricultural enterprises and use large quantities of subsidized electricity.

We add that in July, the country’s authorities obliged all companies involved in the extraction of cryptocurrencies to obtain a corresponding permit, and they themselves pledged to reduce the electricity tariff by 47% if miners take part in energy efficiency projects. Currently, only 624 licenses have been issued.