Iran's Cryptocurrency Mining Faces Challenges Amid Illegal Operations

According to Odaily, Akbar Hasan Beklou, CEO of Tehran Province Electricity Distribution Company, has highlighted Iran's position as the fourth largest cryptocurrency mining hub globally, largely due to substantial electricity subsidies. However, this growth has also led to the country becoming a haven for illegal miners. The Iranian cryptocurrency mining industry is currently grappling with widespread unauthorized mining activities. Of the 427,000 active mining devices in the country, over 95% are operating without authorization, consuming more than 1,400 megawatts of electricity source: https://www.binance.com/en/square/post/31839853323889?utm_source=BinanceNewsRSS