Iran’s Ministry of Energy says it will halt authorized mining activities by the end of November to save energy for winter.

The “Iran halts authorized crypto mining to save energy for winter” is a news article that discusses the Iranian government’s decision to halt authorized crypto mining. The article does not mention what crypto mining means, but it does provide some possible answers. Read more in detail here: what does mining crypto mean.

Iran halts authorized crypto mining to save energy for winter

Iran halts authorized crypto mining to save energy for winter

 

Local energy officials have decided to cease operations of approved cryptocurrency mining facilities as Iran’s energy usage rises over the winter.

Iran is shutting down crypto mining facilities again, according to Mostafa Rajabi Mashhadi, chairman of the board and managing director of Iran Grid Management Company (Tavanir), in order to cut liquid fuel use in power plants when temperatures drop.

Mashhadi told The Islamic Republic of Iran Broadcasting (IRIB) on December 25 that Iranian officials took this step to minimize energy use last month.

“Since last month, the Energy Ministry has been adopting efforts to decrease the use of liquid fuels in power plants, including restricting the power supply to licensed crypto farms, turning off lampposts in less unsafe regions, and strict consumption control,” he added.

The president stressed the significance of energy conservation in the nation, urging residents to minimize their power and gas use as much as possible. According to local sources, heating houses consumes 70% of the gasoline utilized in Iran. According to reports, the new energy-saving measures are intended to reduce energy use by at least 40%.

The Iranian government has been striving to curb illicit crypto miners while imposing limits on regulated crypto mining operations. Since the sector laws were implemented in late November, local energy officials said that they had confiscated a total of 222,000 mining machines used for unlawful crypto mining.

Related: The chairman of the Iran Blockchain Association pushes for a separate committee on cryptocurrency regulations.

Iran is one of the world’s largest crypto mining nations, with a share of the global Bitcoin (BTC) hash rate of 4.5 percent to 7%. The government previously imposed a temporary ban on crypto mining in the summer, citing historically high power use owing to scorching temperatures. After the Iranian electrical system became more reliable, the embargo was removed in September.

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