Iran Seized 240,000 Crypto Mining Devices in 3 Years: Energy Crisis Affects Crypto Mining

Jakarta, Pintu News – The Iranian government has seized around 240,000 cryptocurrency mining devices in the past three years. The move was confirmed by the country’s power company, Tavanir, which stated that the devices have caused great pressure on the national power grid.

According to Tavanir’s CEO Mostafa Rajabi Mashhadi, the seized mining devices consumed around 800 megawatts of electricity – an amount almost equivalent to the 1,000 megawatt capacity of the Bushehr Nuclear Power Plant. This high electricity consumption due to mining activities is one of the main causes of the worsening energy crisis in Iran.

The Energy Crisis in Iran and the Impact of Crypto Mining

Iran, as one of the world’s major producers of natural gas and crude oil, has experienced a serious energy crisis in recent months. Last December, the Iranian government was forced to impose electricity restrictions by reducing the operating hours of government offices and moving school and college activities to an online system. In fact, some areas such as shopping centers and highways experience frequent power outages.

Despite this crisis, illegal use of electricity for mining activities is still rampant. Mashhadi revealed that illegal miners are still tapping into the country’s power grid without official permission, exacerbating the energy supply imbalance. Therefore, the Iranian government urged the Economic Security Police to tighten surveillance and crack down on more illegal miners.

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Iran’s Regulation on Mining and Crypto

In Iran, possession of unregistered mining devices is considered a violation of the law. Offenders who are caught will be penalized by confiscation of the device as well as fines of up to three times the value of the device. Tavanir estimates that there are still around 700,000 illegal mining devices in operation, with electricity consumption reaching 2,000 megawatts.

In addition to the crypto mining factor, rising temperatures and industrial activity are also exacerbating the pressure on Iran’s power grid. Ali Nikbakht, Chairman of the Iranian Power Generation Trade Association, predicts that by next year the country will have an electricity deficit of 25,000 megawatts, or about a third of the total national consumption.

On the other hand, Iran has a complex relationship with cryptocurrencies. The Central Bank of Iran (CBI) has banned the conversion of fiat currency to crypto as well as restricted electronic payment services such as Shaparak to prevent crypto transactions. This move was taken in an effort to stabilize the value of the Iranian currency, which has depreciated by 37% against the US dollar.

The Future of Crypto Regulation in Iran

While Iran has implemented various crypto-related bans, the government has also begun to consider further regulation. In December 2024, the CBI released a document titled Policy and Regulatory Framework for Cryptocurrencies, which aims to provide guidelines in regulating digital assets. However, this policy has been criticized for requiring crypto platforms to hand over user data to the government.

The Iranian Fintech Association rejected the rules, but there is still no clarity on the next steps the Iranian government will take towards digital asset regulation. Amid tight restrictions, around one million Iranians have reportedly been unable to access crypto services in recent days.

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Reference

• Cryptopolitan. Iran Seizure of 240,000 Mining Rigs in Three Years. Accessed March 10, 2025.
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