Iranian authorities have announced that crypto-miners operating in the country will be cut off from electricity by 22 June. According to a report in the Tehran Times, the government has decided to ensure that citizens have enough electricity. Mostafa Rajabi Mashhadi, a spokesman for the Iranian Energy Ministry, indicated that the Asian country expects a greater rate of energy use starting next week.
He reported that during the peak period last week, the country’s consumption hit a new high of 62,500 megawatts (MW). By next week, that figure is likely to grow to 63,000 MW. To avoid a blackout, the government has been forced to intervene.
Bear market giving a tough time to miners
The government has awarded over 1,000 crypto-mining permits to numerous companies since Iran authorized crypto-mining as an economic activity, according to the Tehran Times.
In addition to licensed operations, the country has a huge number of unlicensed crypto-miners that are putting additional strain on the...
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