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Iran threatens to target crypto miners through power cuts

Co CEO of Braiins views rise of organized crypto mining as a major shift

An official from the Iranian government-controlled power generation firm, Tavanir, warned crypto miners that they could be identified and attacked using power cuts.

Digital currency and its usage have begun to penetrate the more conservative economies in the East as well.

Iran has long been opposed to sanctioning the usage of cryptocurrency in its broader economic objectives. The country now appears to be tightening its leash on rogue crypto operatives functioning within the nation.

The report comes from the ‘Iran Front Page (IFP)’ news source. The above-mentioned official, Mostafa Rajabi Mashhadi, told crypto miners operating within the nation that it would be against Iranian law to use the nation’s electrical grid for mining and other activities involving cryptocurrency.

Mashhadi also cast the blame on crypto miners for the steep rise in power consumption that the nation had witnessed in the month of May. Iran’s electrical power consumption had surged by seven percent (7%) on a ‘year-on-year’ in May.

Earlier on in June, Homayoun Haeri, the nation’s deputy energy minister made a statement denouncing crypto miners. Haeri stated that electrical bills for crypto miners were not meant to be borne by the country’s government, as Iran had to shell out close to a billion dollars ($1 billion) annually to cut back electrical costs for the average consumer through subsidies.

Siranjeev Santhanam

Siranjeev Santhanam

Siranjeev has been involved in content development and professional writing for over five years now. He's worked with tech firms, digital management companies and news outlets. Cryptocurrency has occupied one of his top interests for a few years now, and he's really passionate about this booming new sector.

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