Iran Seizes 1,000 Bitcoin Mining Machines

Iran Seizes 1,000 Bitcoin Mining Machines

Iran Seizes 1,000 Bitcoin Mining Machines
Iran Seizes 1,000 Bitcoin Mining Machines

Authorities in Iran have confiscated about 1,000 units of bitcoin (BTC) mining machines from two now-defunct factories. As reported, local authorities noticed a surge in electricity consumption by 7% earlier in June and linked it to cryptocurrency mining activities. Officials subsequently discovered and removed the mining hardware from two former factories.

The machines, which produce cryptocurrencies that are banned in Iran, were mostly to blame for a 7% increase in power consumption in the month to June 21, according to an Energy Ministry spokesman, quoted by the website of state-run Press TV.

Arash Navab, an electricity official, reportedly said that “two of these bitcoin farms have been identified, with a consumption of one megawatt.”

Unauthorized use of electricity for crypto mining has become widespread. Recently, police in China reportedly gathered evidence of people laying cables via fish ponds to steal oil well power to fuel their mining hardware.

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