Authorities in Iran have closed over 1,600 illegal BTC mines. A report issued by the authorities in Iran indicated that these mines consumed more than 250 megawatts of electricity within a year and a half.
The Electricity Company of Iran imposes a fine on the companies
Tavanir, the electricity company in Iran whose illegal miners used electricity, spoke highly of the issue through its spokesperson. The spokesman was quoted as saying that the company in Iran will fine the illegal miners in a way that deters others. According to him, the fine in Iran would be as huge as the losses these illegal activities caused to the national grid.
He added that they would be disconnected from Iran's national power grid and that miners would also continue to face trial.
Tehran officially recognizes the cryptocurrency mining industry
Iran is one of the few countries in the world that recognizes and legalizes the cryptocurrency mining industry. The authorities in Iran had asked all cryptocurrency miners in the country to register with them before August of last year.
However, with this news, it appears that all BTC miners have not heeded the government's words in Iran.
Bitcoin mining activity is increasing outside of China
In a recent report, we reported how cryptocurrency mining activities are gradually shifting away from Asian countries.
According to the report. Many of these miners were moving to the Nordic countries that were providing them with green energy for their mining activities.
The major player in the industry, Philip Salter of Genesis Mining, said the transformation is one of the major events in the industry recently. Salter also said that miners are moving from China to Iran. Likewise, Sweden and Norway because the industry was safer and more stable in those countries than it is in the Asian country.
Certainly, Iran is one of the countries that are working to attract the Bitcoin mining industry to its lands, in an attempt as well as to attract investments in the country.
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