Iran Seizes 45,000 ASIC Miners for Illegal Electricity Consumption

Iranian police have seized about 45,000 ASIC miners illegally consuming subsidized electricity. The authorities also suspended the operation of several authorized mining farms.

According to the publication
Tasmin News Agency, Iranian authorities have confiscated about 45,000 BTC mining devices as part of an operation to combat illegal consumption of subsidized electricity.

Mohammad Hassan Motavalizadeh, managing director of the Iranian state-owned electric power company Tavanir, said that ASIC miners consumed 95 MW of electricity at a very low price. Another 45 MW of electricity was saved by making changes to street lighting systems in Tehran and other cities, he said.

“Total savings corresponds to the electricity consumption in a city with a population of over half a million people,” said Metalizado.

Iran has initiated new measures to combat illegal mining of cryptocurrencies following the recent decision to temporarily shut down authorized mining farms to prevent power outages in major cities. According to the publication, videos distributed on social networks last week featured a mining farm in southeastern Iran, where tens of thousands of ASIC miners worked. The Ministry of Energy suspended the supply of electricity to a farm owned by a Chinese-Iranian investment company.

Authorities said that other authorized mining farms with a total consumption of 600 MW were shut down to help the energy company cope with the growing demand for electricity during the peak of consumption, which is exacerbated by the pandemic-related government orders to restrict the movement of citizens.

At the beginning of the month, it became known that the Iranian authorities, in cooperation with the local energy company Tavanir, have closed since July 2019
1,620 illegal mining farms that consumed more than 250 MW of electricity. In the fall, three Iranian power plants owned by Thermal Power Plant Holding Company said they would start selling excess electricity to cryptocurrency miners to generate a new source of revenue.