Iran Energy Chief Reports 95% of Crypto Mining Rigs Operating Illegally
Tehran’s electricity chief warns that subsidized energy fuels Iran’s status as the fourth-largest crypto mining hub, with most rigs unauthorized and straining national power infrastructure.
Summary
Iran has become the fourth-largest cryptocurrency mining hub, according to Tehran Province Electricity CEO Akbar Hasan Beklou, but faces a severe illegal mining issue. Of 427,000 active mining devices, over 95% operate without authorization, consuming more than 1,400 MW of power. These unauthorized operations, driven by generous energy subsidies, are placing significant pressure on the national grid and risk destabilizing electricity supply.
Terms & Concepts
- Crypto Mining Rig: Specialized computer hardware used to validate blockchain transactions and earn cryptocurrency rewards.
- National Grid: A country's interconnected network for delivering electricity from producers to consumers, maintaining stable supply.