Iran Implements New Restrictions on Crypto Mining

Iran’s authorities have just warned local authorized miners about a temporary power outage, the Tehran Times has reported.

According to local media, there are currently 118 companies associated with crypto mining in the country. Now they must go offline from next month in the Iranian calendar, which starts on June 22.

The Iranian Energy Ministry spokesman Mostafa Rajabi Mashhadihas has said the restrictions were dictated by rising consumption (a record 62,500 MW was recorded last week). According to the forecasts of the authorities, the figure will reach 63,000 MW soon.

This is not the first time Iran has imposed restrictions on crypto miners. At the end of May last year, the country’s president Hassan Rouhani announced a temporary ban on cryptocurrency mining due to a shortage of electricity.