• Iran shuts down more unauthorized crypto mining farms, according to reports

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

    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.

    According to the report, Tavanir stated that the farms’ power consumption was equivalent to the consumption of 800,000 households in the country.

    In May, Iran imposed a four-month ban, urging all licensed cryptocurrency miners to cease operations as the country continued to experience power outages. According to an earlier report, the ban will be lifted later this month.

    According to data from the Cambridge Centre for Alternative Finance, Iran accounted for 4.64 percent of the global Bitcoin mining average hashrate in April before imposing the ban.

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