Iran seizes 7000 bitcoin mining machines, largest crypto farm bust yet

Iranian authorities seize 7000 'computer miners' in the countries largest cryptocurrency farm bust yet, been causing power outages.

@anthony256
Published Tue, Jun 22 2021 9:11 PM CDT   |   Updated Tue, Jul 20 2021 10:42 PM CDT

Iranian police have just performed their largest cryptocurrency mining farm bust ever, with 7000 computer miners seized in the raid.

Iran seizes 7000 bitcoin mining machines, largest crypto farm bust yet 03 | TweakTown.com

State media reports that crypto mining farms have been behind the recent power outages across Iran, with Tehran police chief General Hossein Rahimi explaining that they seized the 7000 computer miners in the west of the capital, inside of an abandoned factory.

General Rahimi said: "The computer miners were found at an abandoned factory in Iran's capital. It was used to carry out illegal cryptocurrency mining activities".

Iran is responsible for around 4.5% of the entire bitcoin mining power, with the country enjoying hundreds of millions of dollars in revenue -- something that helped it take the hits of US sanctions. Iran is pro-crypto and even pro-crypto mining as the country offers cheaper power, while requiring crypto miners to sell their mined bitcoins to the central bank.

Cryptocurrencies that are mined in Iran can be used to pay for imports of goods... authorized by Iran, of course. So the country is pro-crypto mining friendly, but is clamping down on crypto mining farms in their largest bust ever with 7000 computer miners seized.

Anthony joined the TweakTown team in 2010 and has since reviewed 100s of graphics cards. Anthony is a long time PC enthusiast with a passion of hate for games built around consoles. FPS gaming since the pre-Quake days, where you were insulted if you used a mouse to aim, he has been addicted to gaming and hardware ever since. Working in IT retail for 10 years gave him great experience with custom-built PCs. His addiction to GPU tech is unwavering.

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