6914 illegal cryptocurrency mining farms discovered in Iran

Since 2020, Iranian law enforcement agencies have discovered and closed 6914 illegal farms for mining cryptocurrencies.

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Authoritiescountries have legalized the extraction of digital assets in2019, and the Ministry of Industry began issuing licenses for mining virtual currencies. Registered businesses have to pay high export tariffs for electricity, which is why many businesses prefer to work underground.

According to the Iranian portal Iribnews, the discovered illegal mining farms consumed 645 megawatts. The same power of electricity is consumed by the three largest regions of the country for the whole year.

In this regard, the energy company Tavanir confiscated hundreds of thousands of pieces of equipment from illegal miners.

Now for the shadow mining of digital assetsa fine is provided, but the Iranian government plans to toughen the responsibility for this crime. According to the new rules, which are going to be approved this year, violators will face criminal liability. In addition, the amount of penalties will increase at least three times.

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