Illegal Crypto Miners Are Consuming Power Equal to Four Iranian Provinces

Iranian officials say more than 13,000 illegal cryptocurrency mining farms are operating across the country, drawing about 3,750 megawatts of electricity, equal to the consumption of four provinces and nearly 8 percent of total household power use. Donya e Eqtesad reports the unauthorized mining causes roughly $2.5 billion in annual losses. More than 300,000 illegal mining rigs have been identified and seized so far, with an estimated combined load of about 1,300 megawatts, more than the capacity of the Bushehr nuclear plant. Over 70 percent of the discovered farms were located in residential areas. A spokesman for parliament's presiding board recently announced fast track approval of a bill to combat illegal electricity use for crypto mining. State utility Tavanir said identified violators will lose energy subsidies for one year and be billed at the unsubsidized free market electricity rate.