Cryptocurrency Mining Banned in Iran Until Late September

Date: 26 May 2021 - 21:55

News ID: ۹۰۶۵۷

TEHRAN (Dispatches) -The Iranian President Hassan Rouhani has forbidden mining digital currencies until the end of summer as it puts a huge burden on the national power grid.
“The authorized mining of cryptocurrencies does not consume much electricity and needs just around 300 megawatts,” said Rouhani.
“However, it is unauthorized crypto miners that consume a lot of electricity; they consume about 2,000 megawatts,” the president explained.
“As of today, it will be forbidden even for authorized miners to mine cryptocurrencies until late September,” President Rouhani added.