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They turn off the power at the largest cryptographic mining plants

They turn off the power at the largest cryptographic mining plants

Mostafa Rajabi Mashhadi, a spokesman for the Iranian energy industry, said in a statement the government’s decision.

THE Bloomberg according to information, the law will come into force on June 22 in the country affected by the power outages, as a result of which 118 state-approved mining sites will be deprived of energy.

Iran made cryptographic mining official back in 2019, and soon after that it began issuing the necessary permits. At the time, all that was required was for the miners to pay a higher fee for the electricity and to sell their mined bitcoins to the Central Bank of Iran. Since then, however, the government has ordered two shutdowns last year to ease pressure on energy infrastructure as electricity demand broke records. TechCrunch.

Nevertheless, mining has flourished in the country for a long time: according to analyst firm Elliptic, Iran accounted for 4.5 percent of the world’s bitcoin mining activity last May. According to the Cambridge Center for Alternative Finance (CCAF), it fell to 0.12 per cent in January this year. It is not known whether the Iranian government was influenced in its decision by the collapse of the crypto market.

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