Iran to shut down crypto mining farms as electricity consumption in the country is reaching record highs

crypto mining ban IRAN

Legal Crypto Miners in Iran to Halt Operations Again Due to Electricity Shortages. Authorized crypto mining enterprises in Iran will have to unplug their power-hungry coin minting equipment from the beginning of Tir, the next month in the Iranian calendar, or Wednesday, June 22.

 In 2019, the Government approved the crypto mines to function in Iran. At the beginning of the year 2020, around 1,000 mines were granted to use the power supply.

The Government of Iran gave 1,000 crypto mines licenses to mint the token in January this year. Mostafa Rajabi Mashhadi, spokesman of the Ministry of Energy, announced the decision, quoted by Tehran Times.

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