Iran's power supply will be disrupted this winter due to illegal crypto mining: State-owned power firm.
Iran's state electricity organisation warned on Sunday that illegal cryptocurrency mining could lead in further power outages this winter. Iranian officials have accused unlicensed bitcoin miners of consuming a considerable amount of electricity and causing a power shortage.
The power company warned in a statement reported by state news agency IRNA that illegal bitcoin mining will account for at least "10% of electrical interruptions this winter."
Illegal mining was responsible for 20% of power outages over the summer this year, it added.
In September 2018, Iran became one of the first countries in the world to legalise Bitcoin and other cryptocurrencies, but miners must obtain a licence.
Authorities said in May that "illegal" miners consume six to seven times more energy than those with permits because they typically have access to subsidised electricity.
In the same month, Iran announced a temporary ban on all cryptocurrency mining, a day after its energy minister apologised for unanticipated power outages across the country. In mid-September, the prohibition was lifted.
Iran has seen a lot of police raids on illegal bitcoin mining plants. Bitcoin and other cryptocurrencies require vast arrays of computers dedicated to solving purposefully complicated equations in order to be profitable, an endeavour that consumes more electricity globally than some entire nations.
Last month, an Iranian official stated that cryptocurrency could be used to assist the Islamic republic overcome issues related to international sanctions.
He was speaking while the Iranian parliament debated a study on the size of the cryptocurrency sector and how to best exploit the technologythe report said.
Iran mines approximately 19,500 Bitcoins annually, compared to 324,000 around the world, and roughly 700 Bitcoins are traded daily in the country, the report said.