Number of Busted Illegal Crypto Mining Farms in Iran Nears 7,000

0 2

Number of Busted Illegal Crypto Mining Farms in Iran Nears 7,000

Authorities in Iran have shut down close to 7,000 unauthorized facilities for cryptocurrency mining in the past two years, local media revealed. According to a report, most of the illegal bitcoin farms were concentrated in five provinces of the Islamic Republic, including Tehran.

Iran Continues Crackdown on Unlicensed Cryptocurrency Mining

Iranian officials have unplugged and disbanded a total of 6,914 crypto farms operating without a mining license. This since authorities started clamping down on the illegal extraction of cryptocurrencies in 2020, the English-language Iranian daily Financial Tribune unveiled this week.

The newspaper quotes a report by Iribnews.ir, which details that these facilities have burned some 645 megawatts of electrical power while minting digital currencies without permission. It has been estimated this equals the annual consumption of three major regions — North Khorasan, South Khorasan, and Chaharmahal-Bakhtiari.

Cryptocurrency mining has been a legal industrial activity in Iran for almost three years now, after the government approved regulations for the sector in July 2019. A licensing regime was introduced and companies that want to get involved in the business need to obtain authorization from the Ministry of Industries.

However, as registered crypto miners are required to buy the electrical energy they need at higher, export rates, many Iranian miners have opted to remain under the radar. They usually connect illegally to the grid and use subsidized electricity to power their mining hardware.

Iran’s Power Generation, Distribution, and Transmission Company (Tavanir) has been going after underground crypto farms, closing them down and confiscating hundreds of thousands of mining machines. If identified, their operators can be fined for damages inflicted on the distribution network and a report revealed last month that the government is preparing to increase the penalties.

The country’s electricity shortages last summer were partially blamed on increased electricity usage for coin minting and even licensed miners were asked to shut down their equipment. They were allowed to resume operations in September but then again ordered to suspend activities in the face of a growing power deficit in the cold winter months.

Do you expect Iran to continue to crack down on unlicensed crypto mining? Tell us in the comments section below.

Leave A Reply

Your email address will not be published.

bitcoin
Bitcoin (BTC) $ 30,587.00 1.97%
ethereum
Ethereum (ETH) $ 2,102.70 3.25%
tether
Tether (USDT) $ 1.00 0.09%
usd-coin
USD Coin (USDC) $ 1.00 0.18%
binance-coin
BNB (BNB) $ 307.81 3.01%
xrp
XRP (XRP) $ 0.440993 2.92%
cardano
Cardano (ADA) $ 0.583238 3.49%
solana
Solana (SOL) $ 57.58 6.46%
binance-usd
Binance USD (BUSD) $ 1.00 0.24%
polkadot
Polkadot (DOT) $ 11.10 3.23%
dogecoin
Dogecoin (DOGE) $ 0.090823 2.02%
avalanche-2
Avalanche (AVAX) $ 34.87 5.81%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 30,577.00 1.92%
staked-ether
Lido Staked Ether (STETH) $ 2,067.46 3.21%
tron
TRON (TRX) $ 0.072717 4.52%
shiba-inu
Shiba Inu (SHIB) $ 0.000013 3.12%
dai
Dai (DAI) $ 1.00 0.12%
litecoin
Litecoin (LTC) $ 73.84 8.61%
crypto-com-chain
Cronos (CRO) $ 0.203012 3.74%
matic-network
Polygon (MATIC) $ 0.733070 7.13%
near
NEAR Protocol (NEAR) $ 6.73 1.56%
leo-token
LEO Token (LEO) $ 4.94 0.50%
ftx-token
FTX Token (FTT) $ 32.14 0.51%
bitcoin-cash
Bitcoin Cash (BCH) $ 208.74 5.09%
chainlink
Chainlink (LINK) $ 7.78 3.49%
stellar
Stellar (XLM) $ 0.143099 4.05%
algorand
Algorand (ALGO) $ 0.499875 7.76%
cosmos
Cosmos Hub (ATOM) $ 11.69 4.51%
okb
OKB (OKB) $ 12.94 3.65%
monero
Monero (XMR) $ 175.27 7.09%
flow
Flow (FLOW) $ 3.04 4.86%
ethereum-classic
Ethereum Classic (ETC) $ 21.91 3.42%
apecoin
ApeCoin (APE) $ 9.00 9.61%
uniswap
Uniswap (UNI) $ 5.53 7.88%
elrond-erd-2
Elrond (EGLD) $ 100.65 6.40%
hedera-hashgraph
Hedera (HBAR) $ 0.109823 4.36%
vechain
VeChain (VET) $ 0.033120 5.11%
internet-computer
Internet Computer (ICP) $ 8.74 6.16%
theta-fuel
Theta Fuel (TFUEL) $ 0.071705 2.14%
magic-internet-money
Magic Internet Money (MIM) $ 0.995558 0.03%
decentraland
Decentraland (MANA) $ 1.23 1.83%
filecoin
Filecoin (FIL) $ 8.69 3.22%
the-sandbox
The Sandbox (SAND) $ 1.39 3.50%
axie-infinity
Axie Infinity (AXS) $ 21.93 10.10%
compound-ether
cETH (CETH) $ 42.10 3.53%
tezos
Tezos (XTZ) $ 1.88 4.70%
defichain
DeFiChain (DFI) $ 3.13 2.25%
chain-2
Chain (XCN) $ 0.092301 9.93%
frax
Frax (FRAX) $ 0.999654 0.21%
kucoin-shares
KuCoin Token (KCS) $ 15.02 8.02%
zcash
Zcash (ZEC) $ 115.39 11.27%
maker
Maker (MKR) $ 1,591.92 2.97%
theta-token
Theta Network (THETA) $ 1.42 3.71%
pancakeswap-token
PancakeSwap (CAKE) $ 4.75 4.70%
eos
EOS (EOS) $ 1.39 4.11%
aave
Aave (AAVE) $ 95.79 11.83%
the-graph
The Graph (GRT) $ 0.183299 3.12%
klay-token
Klaytn (KLAY) $ 0.440402 9.91%
terra-luna
Terra (LUNA) $ 0.000190 6.12%
true-usd
TrueUSD (TUSD) $ 1.00 0.04%
huobi-btc
Huobi BTC (HBTC) $ 30,567.00 1.79%
huobi-token
Huobi Token (HT) $ 7.08 1.01%
iota
IOTA (MIOTA) $ 0.395062 6.81%
bitcoin-sv
Bitcoin SV (BSV) $ 56.90 6.03%
compound-usd-coin
cUSDC (CUSDC) $ 0.022642 0.17%
bittorrent
BitTorrent (BTT) $ 0.000001 2.62%
thorchain
THORChain (RUNE) $ 3.47 7.68%
quant-network
Quant (QNT) $ 74.92 4.31%
terrausd
TerraUSD (UST) $ 0.088650 19.83%
stepn
STEPN (GMT) $ 1.62 12.71%
ecash
eCash (XEC) $ 0.000050 3.49%
paxos-standard
Pax Dollar (USDP) $ 1.00 0.10%
helium
Helium (HNT) $ 9.31 5.22%
fantom
Fantom (FTM) $ 0.367079 7.58%
radix
Radix (XRD) $ 0.088617 0.14%
gatechain-token
GateToken (GT) $ 5.75 4.84%
neutrino
Neutrino USD (USDN) $ 0.971861 1.93%
cdai
cDAI (CDAI) $ 0.022047 0.08%
bitdao
BitDAO (BIT) $ 0.849164 0.79%
arweave
Arweave (AR) $ 15.99 0.48%
nexo
NEXO (NEXO) $ 1.40 1.49%
neo
NEO (NEO) $ 11.10 6.10%
zilliqa
Zilliqa (ZIL) $ 0.053845 5.84%
convex-finance
Convex Finance (CVX) $ 12.50 10.93%
kusama
Kusama (KSM) $ 83.46 13.15%
waves
Waves (WAVES) $ 7.10 8.17%
enjincoin
Enjin Coin (ENJ) $ 0.749725 4.70%
amp-token
Amp (AMP) $ 0.014221 1.30%
gala
Gala (GALA) $ 0.090464 2.70%
dash
Dash (DASH) $ 61.25 4.20%
chiliz
Chiliz (CHZ) $ 0.121739 5.26%
havven
Synthetix Network Token (SNX) $ 2.91 6.30%
celo
Celo (CELO) $ 1.47 2.01%
loopring
Loopring (LRC) $ 0.508317 7.54%
basic-attention-token
Basic Attention Token (BAT) $ 0.419296 3.75%
maiar-dex
Maiar DEX (MEX) $ 0.000122 7.55%
osmosis
Osmosis (OSMO) $ 1.66 2.11%
blockstack
Stacks (STX) $ 0.581410 2.86%
harmony
Harmony (ONE) $ 0.050344 5.78%
pax-gold
PAX Gold (PAXG) $ 1,821.62 0.32%
gnosis
Gnosis (GNO) $ 231.79 3.00%
compound-usdt
cUSDT (CUSDT) $ 0.021768 0.00%
xdce-crowd-sale
XDC Network (XDC) $ 0.045912 0.61%
mina-protocol
Mina Protocol (MINA) $ 1.12 5.56%
nem
NEM (XEM) $ 0.061766 4.48%
kadena
Kadena (KDA) $ 2.98 0.03%
lido-dao
Lido DAO (LDO) $ 1.53 4.12%
curve-dao-token
Curve DAO Token (CRV) $ 1.42 2.76%
decred
Decred (DCR) $ 38.66 0.64%
fei-usd
Fei USD (FEI) $ 0.999398 0.33%
kava
Kava (KAVA) $ 2.68 11.46%
compound-governance-token
Compound (COMP) $ 74.99 9.08%
frax-share
Frax Share (FXS) $ 8.41 0.15%
nxm
Nexus Mutual (NXM) $ 71.30 3.00%
holotoken
Holo (HOT) $ 0.002716 2.58%
tether-gold
Tether Gold (XAUT) $ 1,860.76 0.21%
tokenize-xchange
Tokenize Xchange (TKX) $ 5.63 2.22%
qtum
Qtum (QTUM) $ 4.26 5.60%
ecomi
ECOMI (OMI) $ 0.001625 4.49%
iostoken
IOST (IOST) $ 0.018289 3.43%
bancor
Bancor Network Token (BNT) $ 1.47 3.43%
juno-network
JUNO (JUNO) $ 8.28 7.91%
oec-token
OKC Token (OKT) $ 25.69 13.67%
1inch
1inch (1INCH) $ 0.964930 3.54%
livepeer
Livepeer (LPT) $ 15.50 3.35%
serum
Serum (SRM) $ 1.27 3.24%
flex-coin
FLEX Coin (FLEX) $ 4.95 1.15%
moonbeam
Moonbeam (GLMR) $ 1.41 8.55%
evmos
Evmos (EVMOS) $ 1.80 0.83%
omisego
OMG Network (OMG) $ 2.61 5.31%
0x
0x (ZRX) $ 0.431298 5.72%
msol
Marinade staked SOL (MSOL) $ 60.09 6.08%
celsius-degree-token
Celsius Network (CEL) $ 0.856677 1.31%
xido-finance
Xido Finance (XIDO) $ 12.63 0.84%
yearn-finance
yearn.finance (YFI) $ 10,209.49 3.28%
bitcoin-gold
Bitcoin Gold (BTG) $ 20.30 3.09%
liquity-usd
Liquity USD (LUSD) $ 1.00 0.04%
rocket-pool
Rocket Pool (RPL) $ 21.30 5.37%
secret
Secret (SCRT) $ 2.01 5.98%
ankr
Ankr (ANKR) $ 0.041395 7.13%
link
LINK (LN) $ 55.47 3.40%
olympus
Olympus (OHM) $ 17.22 3.78%
audius
Audius (AUDIO) $ 0.481196 7.80%
ravencoin
Ravencoin (RVN) $ 0.031769 5.50%
husd
HUSD (HUSD) $ 1.00 0.02%
iotex
IoTeX (IOTX) $ 0.034226 12.94%
bitkub-coin
Bitkub Coin (KUB) $ 3.63 1.94%
skale
SKALE (SKL) $ 0.093011 9.65%
convex-crv
Convex CRV (CVXCRV) $ 1.38 1.50%
icon
ICON (ICX) $ 0.406965 5.46%
just
JUST (JST) $ 0.043261 3.12%
golem
Golem (GLM) $ 0.315674 22.11%
everdome
Everdome (DOME) $ 0.026109 2.82%
usdd
USDD (USDD) $ 1.00 0.43%
ethereum-name-service
Ethereum Name Service (ENS) $ 12.65 17.29%
swissborg
SwissBorg (CHSB) $ 0.318020 1.47%
oasis-network
Oasis Network (ROSE) $ 0.086132 11.39%
everscale
Everscale (EVER) $ 0.239438 0.22%
siacoin
Siacoin (SC) $ 0.005614 4.79%
dogelon-mars
Dogelon Mars (ELON) $ 0.000001 4.59%
titanswap
TitanSwap (TITAN) $ 2.85 1.91%
constellation-labs
Constellation (DAG) $ 0.110650 4.51%
synapse-2
Synapse (SYN) $ 1.49 0.60%
zencash
Horizen (ZEN) $ 22.55 8.38%
safemoon
SafeMoon [OLD] (SAFEMOON) $ 0.000000 3.31%
sushi
Sushi (SUSHI) $ 1.48 13.12%
songbird
Songbird (SGB) $ 0.034221 21.95%
mimatic
MAI (MIMATIC) $ 0.998301 0.04%
safemoon-2
SafeMoon (SFM) $ 0.000461 5.87%
wax
WAX (WAXP) $ 0.130934 3.27%
pocket-network
Pocket Network (POKT) $ 0.261158 24.86%
trust-wallet-token
Trust Wallet Token (TWT) $ 0.739979 8.40%
ontology
Ontology (ONT) $ 0.290495 4.33%
render-token
Render Token (RNDR) $ 0.993454 2.47%
ethos
Voyager Token (VGX) $ 0.863480 2.91%
astar
Astar (ASTR) $ 0.072017 5.40%
swipe
SXP (SXP) $ 0.494542 6.95%
gemini-dollar
Gemini Dollar (GUSD) $ 1.00 0.30%
plex
PLEX (PLEX) $ 0.914865 0.87%
smooth-love-potion
Smooth Love Potion (SLP) $ 0.005815 8.44%
escoin-token
Escoin Token (ELG) $ 3.41 3.30%
tenset
Tenset (10SET) $ 2.57 9.28%
woo-network
WOO Network (WOO) $ 0.212855 7.99%
uma
UMA (UMA) $ 3.34 9.07%
tether-eurt
Euro Tether (EURT) $ 1.05 0.79%
immutable-x
Immutable X (IMX) $ 0.939963 5.38%
kyber-network-crystal
Kyber Network Crystal (KNC) $ 2.16 37.98%
nucypher
NuCypher (NU) $ 0.180652 3.80%
playdapp
PlayDapp (PLA) $ 0.591715 3.31%
velas
Velas (VLX) $ 0.092467 16.87%
polymath
Polymath (POLY) $ 0.236806 6.73%
mxc
MXC (MXC) $ 0.086889 12.93%
apenft
APENFT (NFT) $ 0.000001 3.88%
hive
Hive (HIVE) $ 0.559397 3.32%
illuvium
Illuvium (ILV) $ 312.79 3.79%
digibyte
DigiByte (DGB) $ 0.013126 7.72%
rally-2
Rally (RLY) $ 0.072157 2.08%
casper-network
Casper Network (CSPR) $ 0.041569 2.87%
dydx
dYdX (DYDX) $ 2.08 8.82%
acala
Acala (ACA) $ 0.481422 2.18%