Iran Temporarily Halts Cryptocurrency Mining Operations Following Blackout

Azeez Mustapha



Select a Plan


 1-month subscription



 3-month subscription



 6-month subscription



 lifetime subscription



 Separate Swing Trading Group



Get VIP forex signals, VIP crypto signals, swing signals, and forex course free for lifetime.

Just open an account with one our affiliate broker and make a minimum deposit: 250 USD.

Email [email protected] with a screenshot of funds on account to get access!

Sponsored by

Sponsored Sponsored


Service for copy trading. Our Algo automatically opens and closes trades.


The L2T Algo provides highly profitable signals with minimal risk.


24/7 cryptocurrency trading. While you sleep, we trade.


10 minute setup with substantial advantages. The manual is provided with the purchase.


79% Success rate. Our outcomes will excite you.


Up to 70 trades per month. There are more than 5 pairs available.


Monthly subscriptions begin at £58.

The President of Iran, Hassan Rouhani, has announced a four-month ban on all cryptocurrency mining activities ahead of elections. The announcement came on Wednesday, a day after the Iranian Energy Minister, Reza Ardakanian, apologized for unexpected power cuts across large cities.

Iranian public officials have always blamed unlicensed cryptocurrency mining operations for consuming significant amounts of electricity. In September last year, Rouhani, in a televised remark, declared that:

“Cryptocurrency activities, and mining cryptocurrencies, must be stopped.”

Power cuts in peak summer months are a regular occurrence in Iran. However, this time around, Tehran and other large cities suffered unplanned blackouts, triggering an uproar of criticism from consumers and businesses. The country began rolling blackouts from Sunday to reduce the pressure on the national grid.

Rouhani revealed that illegal miners who have access to subsidized electricity consume 7x more than those with permits.

Minister Reza Ardakanian made a public apology to Iranians on Tuesday for the “shortcomings and pressures” over the unexpected power cut. Ardakanian noted that the national grid is overburdened because of a drought affecting hydropower generation and unexpectedly warm weathers, triggering a surge in air conditioning use.

Cryptocurrency Mining Farms Suspend Operations

Meanwhile, national electricity spokesman Mostafa Rajabi Mashhadi announced last Saturday that licensed crypto mining farms have voluntarily halted operations to reduce the burden on the grid.

Mining Bitcoin and other cryptocurrencies require immense electricity to power the masses of computers and mining rigs dedicated to solving algorithms. Some reports show that cryptocurrency mining consumes more electricity than entire nations.

Michel Rauchs, a cryptocurrency expert and consultant, noted that between 5 and 10 percent of all Bitcoin mining happens in Iran.


You can purchase crypto coins here: Buy Coins

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit

Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

Leave a Reply

Your email address will not be published. Required fields are marked *