Iran Stops Crypto Mining to Reduce Energy Consumption Before Winter

According to the Iranian authorities, reducing the energy consumed by legal crypto farms, amongst other power-saving measures, will cut the usage of fuel by at least 40%. 

However, it isn’t the first time the Iranian government put a leash on energy usage. During the summer, Iran temporarily imposed some regulatory measures to reduce crypto mining and save energy for the winter.

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This is usually done, because at least 70% of the fuel in Iran gets consumed by district heating so extra reserves may be needed in extreme cold weather conditions. In fact, local authorities urged their citizens to reduce any excess fuel and electricity consumption.

Mostafa Rajabi Mashhadi, who is the managing director of Iran Grid Management Company, had a say in this situation, stating:

"The Energy Ministry has been implementing measures since last month to reduce the use of liquid fuels in power plants, including cutting licensed crypto farms’ power supply, turning off lampposts in less risky areas and stringent supervision of consumption"

Due to Iran being a giant in crypto mining throughout the years, saving energy has become one of the top priorities for the country. However, it’s quite uncertain whether the implemented measures will have a huge impact in the long run. 

Aaron S., Editor-In-Chief

Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
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