Two Large Illegal Bitcoin Farms Were Confiscated in Iran

Iranian authorities seized about 1,000 miners, which were used for the illegal mining of bitcoins.

Last month, a seven percent increase in energy consumption was recorded in the province of Yazd. This fact alerted local law enforcement. Soon they found two operating bitcoin farms that worked in abandoned factories. The total number of network equipment exceeds one thousand units. All this technique was arrested.

As is known, the Central Bank of Iran banned cryptocurrencies in 2018, referring to concerns about money laundering. Also, officials said that mining makes the local power grid “unstable” and those people who will do this will be turned off.

Iranian authorities subsidize electricity tariffs, so the price per kilowatt in the country is low, which actually attracts miners. In general, cryptocurrencies help the local population to partially get round the sanctions that were imposed on Iran by the United States.

We want to remind:

Iran Allegedly Plans To Adopt State-Backed Cryptocurrency Today

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