Iranian authorities have seized approximately 240,000 cryptocurrency mining rigs in the past three years due to power shortages and network instability in the country. The state electricity company, Tavanir, confirmed the confiscation, stating that the rigs consumed around 800 megawatts of electricity. The CEO of Tavanir compared the energy consumed by the mining rigs to that of the Bushehr nuclear power plant, highlighting the strain on the national grid. The country is currently grappling with an energy crisis, despite being a major supplier of natural gas and crude oil. The law in Iran imposes fines and confiscation of illegal and unregistered mining equipment. The Central Bank of Iran has also banned the conversion of fiat currency to crypto, leading to difficulties for crypto users in the country. However, the bank is taking steps to regulate the digital assets market.



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