Media: Iran seizes 7,000 cryptocurrency-mining devices

The Iranian police uncovered an illegal mining farm and seized 7,000 cryptocurrency-mining devices, Reuters reports, citing local sources.

According to Tehran’s police chief Hossein Rahimi, the mining equipment was located at an abandoned factory in the western part of the capital.

4.5% of all Bitcoin mining is attributed to Iran. Cryptocurrency allows the country to circumvent sanctions and buy imported goods.

Earlier in May, media reported about a proposed ban on mining digital assets in Iran until the end of summer 2021.

In January, authorities shut down 1,620 illegal mining centers, which in total consumed 250 MW of power.

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