Through the excessive summer time climate situations, Iran plans to chop off electrical energy for each licensed crypto mining rig as soon as once more.
On June 21, the Iranian authorities issued a press release, indicating that it could be reducing the ability provide for licensed crypto miners because the nation is affected by quite a lot of energy outages.
In keeping with the official report, licensed crypto mining entities in Iran received’t have the flexibility to hold out any crypto-related mining actions from the start of July till additional discover.
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Rajabi Mashhhadi, a spokesperson for Iran’s energy business, lately talked about that Iran has a complete of 118 licensed crypto mining facilities that “must cut off their electricity supply from the national grid from the beginning of July.”
“Final week, the nation’s electrical energy consumption recorded an all-time excessive of 62,500 megawatts (MW) throughout peak consumption, which is a big determine.”
The Iranian authorities issued a warning, stating that the consumption demand will ultimately surpass 63,000 MW, thus electrical energy provide should be restricted.
In keeping with statistics launched by Cambridge College, Iran was accountable for 0.12% of the BTC community’s hash price. On high of that, it was beforehand listed as one of many high 10 nations that led Bitcoin (BTC) mining. In reality, final 12 months, in August, electrical energy demand in Iran hit a brand new excessive and exceeded 67,000 MW.
Apparently sufficient, Iran was given the inexperienced mild to conduct cryptocurrency mining again in 2019, turning into one of many first nations on the planet that obtained such a possibility. Since then, Iran’s authorities demanded that companies concerned in mining actions should obtain licensing, pay the next tariff for electrical energy, in addition to give all mined Bitcoin (BTC) to the authorities.
Nonetheless, this isn’t the primary time the federal government paused crypto mining within the nation. As an example, final 12 months, Iranian authorities got here up with a call to impose some regulatory measures with a purpose to scale back crypto mining and save power for the winter. Later in December, Iran additionally prohibited miners from conducting such operations in an effort to avoid wasting gasoline for district heating.
In different information, again in March, the Russian Ministry of Power Growth was wanting to legalize crypto mining within the nation on a “regional level” at decided “sites” to make sure that power surpluses had been used correctly.