Iran Bans Crypto Mining to Stop Winter Blackouts

Iran bans cryptocurrency mining again. However, this time the ban will help prevent authorized cryptocurrency mining centers from draining the country’s power plants.

Crypto Mining Ban to Free up to 209 Megawatts of Power

This cryptocurrency mining ban will last until March 6. Allegedly, it’s supposed to free up to 209 megawatts of power generated for household consumption. However, at the same time, authorities will also look for illegal mining operations carried out by individuals in households and larger industrial units.

According to the government’s officials, these unregulated and unlicensed digital asset miners account for the largest share of crypto mining in Iran. Together, they consume more than 600 megawatts of electricity.

However, banning crypto mining is not the only measure Iran will take to conserve more power. Other methods include turning off street lights and regulating electricity consumption in offices.

This is the second time Iran has decided to ban crypto mining. Earlier in 2021, the country suffered a series of blackouts in the largest cities, many of which were blamed on a surge in energy-intensive processes.
Since the China cryptocurrency ban, many countries have faced similar challenges. For example, when Chinese miners moved operations, other countries saw pressure on their power grids. This caused the need to ban or limit crypto mining operations around the globe.