Iran cuts electricity to crypto miners

Iran will cut electric power to all its 118 legal crypto mining centers this month due to the country’s increased energy demand.

Electricity to all 118 legal crypto mining centers in Iran to cease from June 22 ahead of a seasonal spike in power demand, per Bloomberg.

In 2020, Iran gave over 1,000 miners licenses to operate following legalization.

According to studies, Iran has also used crypto mining to lessen the impact of sanctions levelled upon the country.

At the same time, however, the country has cracked down on illegal mining activity — seizing 7,000 crypto mining units in June of last year.