Cryptocurrency Miners in Iran Warned of Power Cut By IFP Editorial Staff June 23, 2019 - 18:22
An Iranian energy official has warned the people producing Bitcoins and other digital currencies in the country that they are going to be detected and face a power cut. In comments on Sunday, the spokesperson for Tavanir, an Iranian state-run company in charge of power supply and distribution, said the country’s consumption in the previous Iranian month has risen by 7 percent compared to the corresponding period last year. Such increase was mainly caused by the Bitcoin miners’ outsize thirst for electricity, Mostafa Rajabi Mashhadi added. It is illegal to use the national grid for cryptocurrency mining, he added, saying the electricity users producing digital currencies, like Biotcoin, will be detected and their power will be cut off. Every Bitcoin mining machine that is powered by the same cheap source of electricity available to houses consumes the equivalent of 24 dwellings, the spokesman added, saying the administration has not still set a tariff on the power consumption of digital currency miners.