Iran seizes 1,000 BTC mining rigs after usage caused power spike

28 Jun, 2019
by David Borman
Iran seizes 1,000 BTC mining rigs after usage caused power spike

It is being reported by Reuters that the Iranian government has taken control of around 1,000 Bitcoin mining machines that were detected when their usage caused a notable spike in the consumption of the subsidized energy in the nation.

Iran previously banned the country's banks from dealing with crypto back in 2018, however that hasn't stopped some miners from setting up operations. As of June 21st, Iran has seen a 7% spike in the rate of use for its government subsidized electricity for the previous 30 days, and this is believed to be largely due to cryptocurrency mining operations.

This has led to a crackdown on the use of such miners, and recently authorities have identified two factories, now abandoned, that were rigged with up to 1,000 mining machines between them. Arash Navab, a power official from province of Yazd, is quoted in the article:

"Two of these bitcoin farms have been identified, with a consumption of one megawatt."

It is not clear at this time who was responsible for the mining farm or why they abandoned operations before the authorities arrived. It is similarly unclear what the Iranian government plans to do with the confiscated mining machines.

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