Iran Authorities Seizes 1K Mining Rigs Amid Power Spike
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June 28, 2019
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Iranian authorities have seized 1000 bitcoin mining rigs after the spike of electricity power from two factories, BBC reports citing local TV channel.

A source familiar with the matter claims bitcoin draw special authorities' attention as it became a potential mean of storing wealth bypassing regulatory measures.

Arash Navab, an electricity official, said two of seized bitcoin farms had been identified, with a consumption of one megawatt.

Earlier in June, Iran's Deputy Energy Minister, Homayoun Haeri, said that crypto miners should not receive any subsidy to pay for the energy they consume to carry out their mining activities

The Iranian government spends around $1B every year in subsidies to cover the breach between the real price of electricity and what consumers actually pay.

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