Iran closes down more unauthorized crypto mining farms: reports

Iran, which imposed a temporary ban on Bitcoin mining a few months ago, continues to crack down on illegal crypto mining operations, closing down thousands of unauthorized mining facilities, according to local media reports.

Fast facts

• The Iran Power Generation, Distribution and Transmission Company, also known as Tavanir, told the state-run ISNA that it had identified 5,380 unauthorized crypto mining farms and seized 216,758 pieces of hardware, local English media Financial Tribune reported.

• Tavanir said the farms’ power consumption was equivalent to the consumption of 800,000 households in the country, according to the report.

• Iran imposed a four-month ban in May, with all licensed crypto miners urged to stop operating as the country continued to suffer power outages. The ban is expected to lift later this month, according to an earlier report.

• Iran took up 4.64% of the global Bitcoin mining average hashrate in April before it imposed the ban, according to data from the Cambridge Centre for Alternative Finance.