Iran Bans All Crypto Mining for the Summer: Report

Even authorized miners will have to halt operations until late September.

AccessTimeIconMay 26, 2021 at 8:49 a.m. UTC
Updated Sep 14, 2021 at 1:02 p.m. UTC

Amid power shortages caused by a lack of rain, Iran is again clamping down on cryptocurrency mining.

  • Iran's president, Hassan Rouhani, has said mining operations must cease until Sept. 22 due to the load they place on the national power grid, according to a report from Iran Front Page on Wednesday.
  • Rouhani said authorized miners use only 300 megawatts of electricity, while unauthorized operations use around 2,000 megawatts.
  • However, the temporary ban applies to all miners, he said.
  • The unusually dry spring has left Iran struggling with hydropower shortages that have already prompted clamp-downs on the local crypto mining industry.
  • Earlier this month, the energy ministry said miners using domestic power for their operations would face heavy fines and may have to pay damages.
  • It's also been reported that the country's intelligence agency has been recruited to track down illegal miners.
  • The need to halt all mining may come as a blow to Iran's coffers, since the state has been using locally mined cryptocurrency to bolster revenues amid tough international sanctions.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.


CoinDesk - Unknown
Three Arrows Paper Trail Leads to Trading Desk Obscured Via Offshore Entities

As Three Arrows Capital collapsed under market pressure, its much-lesser known trading desk, TPS Capital, remained active, sources say. But a complex ownership structure might frustrate creditors' efforts to collect.

CoinDesk - Unknown
CoinDesk - Unknown
June Was Bitcoin’s Worst Month Ever

Plus, European crypto regulation comes into view.

CoinDesk - Unknown
CoinDesk - Unknown
What Traders Are Saying About Bitcoin's Biggest Monthly Loss in 11 Years

Poor macroeconomic sentiment, fears of inflation and systemic risks from the crypto market pushed the cryptocurrency below 2017’s highs.

CoinDesk - Unknown
CoinDesk - Unknown
Three Arrows Capital Files for Bankruptcy in New York Tied to British Virgin Islands Proceeding

A British Virgin Islands court ordered Three Arrows' BVI branch into liquidation earlier this week.

CoinDesk - Unknown