Iranian authorities seize 1,000 Bitcoin mining machines using subsidized power

posted 3 months ago
Iranian authorities have seized about 1,000 bitcoin mining machines in two abandoned factories, state television reported, after warnings that the activity had led to a spike in consumption of government-subsidized electricity. “Two of these bitcoin farms have been identified, with a consumption of one megawatt,” Arash Navab, a power official in the central province of Yazd, told the television.

The machines, which produce cryptocurrencies that are banned in Iran, were mostly to blame for a 7% increase in power consumption in the month to June 21, according to an Energy Ministry spokesman, quoted by the website of state-run Press TV.
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