Iran is ordering authorized crypto-mining centers to shut down until March to prevent blackouts ahead of winter.- Bloomberg was first to report, citing Mostafa Rajabi Mashhadi, director of Iran Grid Management.
- This is the second time this year Iran has ordered the centers to shut down. The first one was in May.
Iran is ordering authorized crypto-mining centers to shut down until March 6 next year to prevent blackouts ahead of winter as the country's power plants struggle to provide power.
Bloomberg was first to report, citing Mostafa Rajabi Mashhadi, director of Iran Grid Management, the national power grid developer and operator. He is also the spokesman for Iran's power industry.
This is the second time this year the Middle Eastern nation has ordered the centers to shut down. The first one was in May when Iran faced a series of blackouts due to higher than usual energy consumption during the summer season, compounded by drought and high temperatures. The order was lifted in September.
The ban is said to free up 209 megawatts of power for consumption in the household sector, Mashhadi said, according to Bloomberg.
Cryptocurrency mining has long been criticized due to its heavy energy use and environmental impact. Various research, including a study from Cambridge University, has shown that bitcoin mining around the world uses more energy each year than some entire nations.
As such, Iranian authorities are also cracking down on illegal mining, which consumes more than 600 megawatts of electricity, Bloomberg reported. Other measures Mashhadi is promoting include switching off street lights and limiting electricity consumption in offices.