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November 29, 2022
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Iranian police confiscated 7,000 excavators –

Iranian provincial police continue their crackdown on cryptocurrency miners. This time, she confiscated over 7,000 excavators on a farm operating in Tehran.

The police take over 7,000 excavators

According to Tuesday According to the Islamic Republic News Agency (IRNA) report, police seized excavators that were located in an abandoned factory. National electricity grid experts estimated that miners operating at full capacity would account for about 4% of Iran’s average daily energy consumption.

Tehran Police Chief Hossein Rahimi said law enforcement has found another 3,000 excavators in the Iranian capital in the last 48 hours. Police conducted raids on as many as 50 locations. He added that the discovery of the farm consisting of 7,000 devices was the largest and most significant energy theft in the country to date.

Iranian President Hassan Rouhani announced in May that the mining of Bitcoin (BTC) and cryptocurrencies in the country would be banned until September. All this to ensure Iranians have access to electricity in the summer.

Smaller miners are also in focus

While more than 7,000 excavators may get more attention from authorities, police are also cracking down on small miners. Those who use their farm’s electricity illegally can face heavy fines. An IRNA report on Tuesday said police had detected four “home” miners in Pakdasht southeast of the capital. Before checking if there were excavators in the house, the authorities measured the electricity consumption from the outside.

Before Iran’s energy crisis led to its crackdown on energy-sucking miners, the country seemed open to the mining industry. In 2019, lawmakers gave the green light to cryptocurrency mining as an industrial activity. They also required miners to be licensed and regulated. Nevertheless, any use of the country’s electricity grid has come under scrutiny as Iran is struggling with power cuts, often caused by miners.

As reported in early May, Iran is also trying to ban cryptocurrency payments mined abroad. Iran’s Central Bank announced the government’s decision that digital currencies traded in Iran must be mined in Iran. This rules out the exchange of digital assets mined abroad.

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