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Iran has become the world's fourth-largest cryptocurrency mining hub.
BlockBeats News, November 2, Chief Executive Officer of the Tehran Province Power Distribution Company, Akbar Hasan Beklou, stated that thanks to generous electricity subsidies, Iran has become the world's fourth-largest cryptocurrency mining center but has also turned into a "haven for illegal miners." It is reported that Iran's cryptocurrency mining industry is facing a widespread crisis of illegal mining, with over 95% of the more than 427,000 active mining devices in the country operating without authorization, consuming over 1400 megawatts of electricity. This situation has put significant strain on the power grid, threatening the stability of the power supply.
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