Iran cryptocurrency mining consumes 14% of peak summer electricity deficit

A report from the Majlis Research Center indicates that cryptocurrency mining in Iran consumes between 930 and 1,200 megawatts of electricity. This represents approximately 14% of the country’s electricity deficit during peak summer demand, and roughly 6% of the total electricity imbalance across the four-month warm season.

To sustain these mining operations, the country would require an estimated 8.46 billion kilowatt-hours of electricity annually and 2.1 billion cubic meters of gas-equivalent fuel. The annual fuel burden is estimated at approximately $1.5 billion, based on diesel-import costs.

While the Majlis Research Center's figures suggest mining is not the primary cause of the power deficit, Tavanir, Iran’s state utility, has provided higher estimates. Tavanir officials previously suggested that mining consumption could reach 2,000 megawatts, accounting for up to 20% of the current power deficit. The report also notes that heavily subsidized electricity rates allow for significantly lower mining costs in Iran compared to global averages.