Iran Restricted Bitcoin mining for the second time this year scheduled until march
According to a Bloomberg report, Iran has again ordered the closure of bitcoin miners to ease the need for electricity on the country’s energy grid during the winter months. Licensed miners are required to shut down until March 2022.
Iran bans Bitcoin mining again until March
The country has ordered miners to shut down for the second time this year over blackouts concerns.
“The measures will be in place until March 6 in an attempt to reduce the risk of blackouts and ensure power stability to households across the country”, Mostafa Rajabi Mashhadi, director of the state-run Iran Grid Management Co. and a spokesman for Iran’s power industry stated.
Bitcoin miners will free up about 209 megawatts of electricity by shutting down over the next few months. The report said other energy allocation measures utilized by the Iranian government include turning off street lights in some areas and restricting energy use in offices.
“Authorities are also cracking down on illegal mining carried out by both individuals at home and larger-scale industrial units,” he added. “These unlicensed operators account for the largest share of crypto mining in the country, consuming more than 600 megawatts of electricity.”
A temporary moratorium has been put in place to limit the electricity usage of bitcoin miners during the summer as authorized and unauthorized activities are estimated to consume around 2,300 MW of electricity. Miners were granted permission to go online again in October when the ban was lifted, and operations resumed. In May, the Iranian government took similar measures to cut energy consumption.
Sign up for a Binance account here (Discount 10% trading fees): https://accounts.binance.com/en/register?ref=29171587
- RBI Wants A Complete Ban On Cryptocurrency, Claiming That Partial Ban Would Be Ineffective
- Russia Could Join China In Cracking Down On The Cryptocurrency Industry