Iran opens war on Bitcoin mining as the government confiscated 7000 machines from an abandoned factory as we are reading more in our latest bitcoin news today.
Iranian authorities confiscated about 7000 crypto mining machines with the latest developments are in line with the Iran crackdown on the illegal BTC mining activities. According to Reuters, General Hossein Rahimi who is the Tehran police chief who revealed that the computer miners were found at the abandoned factory in Iran’s capital that was used to carry out illegal crypto mining activities.
The latest seizure is the biggest one carried out by the Iranian authorities so back in January the Iranian government confiscated more than 1500 unlicensed mining farms while in the same month, they were able to seize another 45,000 BTC mining rigs. Iran opens war harder than ever but because of the cheap electricity in the country, there was an influx of BTC miners to the country. An Elliptic study shows that Iran accounts for over 4% of BTC mining.
However, the government seems to have been coming hard on the mining sector, with different operations targeted at illegal miners, and according to the government, the mining activities affected the country’s electricity supply and as reported, the government placed a temporary ban on BTC mining until September 2021 and the country even stated that it will fine miners that use household electricity for Bitcoin mining. While Iran is clamping down on illegal BTC mining activities so China is carrying out a nationwide crackdown on the sector with regions like Inner Mongolia, Yunnan and Xinjiang issued notices for the miners to shut down all operations. The clampdown on the miners led to a sharp drop in hashrate by 50%.
Also as we reported recently, Iran’s government reportedly banned a local blockchain association and a crypto warning list was the main cause of the ban as per the head of the Blockchain Community of Iran. The Ministry of Interior of the Islamic Republic of Iran blocked multiple activities of the Iran blockchain community but the association claimed that they haven’t received a direct notice. The Social Affairs Organization of the Ministry required the reports on IBC’s financial performance and dealings with crypto exchanges via a notice posted in the local newspaper Hamshahri Online a week ago as per local sources.
DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at [email protected]