Iranian authorities have seized about 7,000 cryptocurrency mining machines. The latest developments are in line with Iran’s crackdown on illegal bitcoin mining activity.
According to Reuters on Tuesday (22 June 2022), General Hossein Rahimi, the head of the Tehran police, revealed that the computer miners were found in an abandoned factory in the Iranian capital, which is used to carry out illegal cryptocurrency mining activities.
The latest seizure is the largest ever carried out by Iranian authorities. Back in January, the Iranian government confiscated more than 1,500 illegal crypto mining. That same month, authorities seized 45,000 bitcoin mining rigs.
Iran’s cheap electricity has seen an influx of bitcoin miners into the country. A study by Elliptic, a blockchain and crypto analytics firm, shows that Iran accounts for more than 4% of bitcoin mining.
However, the government appears to have cracked down on the bitcoin mining sector, with various operations targeted at illegal BTC miners. According to Iran, bitcoin mining activity is suspected of affecting the country’s electricity supply.
As reported CryptoPotato in May, the Iranian government placed a temporary ban on BTC mining until September 2022. The country previously stated that it would fine miners who use household electricity for bitcoin mining.
While Iran suppresses illegal bitcoin mining activity, China is carrying out a nationwide crackdown on the sector. Regions such as Xinjiang, Mongolia, Qinghai and Yunnan have issued notices for miners to close operations.
The crackdown on Chinese bitcoin miners has led to a sharp drop in the hashrate of nearly 50%.