Illegal Mining Threatens Iran’s Power Grid Amidst Cryptocurrency Boom

Iran’s cryptocurrency mining industry, while significantly growing as the fourth largest in the world according to Tehran Province Electricity Distribution Company CEO Akbar Hasan Beklou, is facing a critical challenge: widespread illegal operations. The country now hosts more than 427,000 active mining devices, with over 95% operating unauthorized. This poses significant strain on Iran’s power grid, consuming more than 1,400 megawatts of electricity and potentially jeopardizing the stability of electricity supply.