Iran calls for ban on crypto mining to prevent winter blackouts Crypto News

The ban is the second time this year that Iran has ordered the closure of cryptocurrency-authorized mining centers to ease tensions at the country’s power plants.

Iran has ordered the closure of permitted cryptocurrency mining centers for the second time this year as part of efforts to ease tensions at the country’s power plants and prevent blackouts, according to Mostafa Rajabi Mashhadi, director of Iran Grid Management Co. Spokesman for Iran’s energy industry.

The ban, which will take effect on March 6, will release 209 megawatts of energy for consumption in the domestic sector, Rajabi Mashhad said in an interview with state television. He added that the authorities, both individuals at home and large-scale industrial units, are engaged in illegal mining. These unlicensed operators cover most of the country’s cryptographic mining, consuming more than 600 megawatts of electricity.

Other fuel-saving measures include turning off street lights in some areas and regulating electricity consumption in offices. Rajabi Mashhad said the government expected 60% more electricity production in the summer.

Iran banned cryptographic mining earlier this year, blaming the rise of the energy-intensive process amid some blackouts in major cities. Although the majority of cryptographic mining was focused on China, this year was changed by a nationwide ban when it sent operators to other nations, especially to places that offered cheap power. This has put pressure on electricity networks to push countries from Iceland to Kazakhstan to industry.

Iran’s daily gas demand for the first time in the domestic sector rose to an unprecedented 570 million cubic meters, while the country “increased” its natural gas production to 800 million cubic meters per day, according to an Iranian National. A statement from Gas Co. last week. Excessive demand has forced industrial units to reduce their electricity supply.