Iranian Government To Cut Power To Country's Legal Crypto Mining Platforms
Iran's relationship with cryptocurrencies seemed to be moving forward in a positive way. Last year the Asian country issued licenses for crypto miners and formulated a bill to regulate digital currencies; now, it will restrict the energy of cryptocurrencies, this as a response to the energy crisis they are going through.
Quoting via Twitter, Mashhadi stated:
Source: https://cointelegraph.com/news/iranian-government-to-cut-power-supply-for-the-country-s-legal-crypto-mining-rigs
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For years the country has heavily subsidized its electricity production, which has led to extremely low prices. He says this has now become unsustainable.
According to a report by Bloomberg, there will be 118 legal crypto mining centers that will be banned from energy from next June 22, before seasonal spikes in energy demand increase, said Mostafa Rajabi Mashhadi, spokesman for Iran's energy industry. , in an interview with state television.Quoting via Twitter, Mashhadi stated:
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"Last week, the country's electricity consumption recorded an all-time high of 62,500 megawatts (MW) during peak consumption, which is a significant figure. According to forecasts, this week's consumption requirement will exceed 63,000 MW, which means we must limit electricity supply ."
Source: https://cointelegraph.com/news/iranian-government-to-cut-power-supply-for-the-country-s-legal-crypto-mining-rigs