Iranian Parliament approves urgent bill against illegal crypto mining

The Iranian Parliament has approved an urgent request to review a bill aimed at combating the illegal use of electricity for cryptocurrency mining. The proposal seeks to add Article 687 bis to the Islamic Penal Code to address this issue.

Alireza Salimi, a member of the Parliament's presiding board, stated that illegal cryptocurrency mining causes approximately $2.5 billion in annual losses to the country. He noted that these activities consume 3,750 megawatts of electricity, which is equivalent to the consumption of four provinces or 8% of domestic household electricity use.

Officials reported that there are over 13,000 illegal mining farms in the country. In the first four months of the current year, over 12,511 illegal miners were identified. Salimi also highlighted that some operators employ armed guards to protect their equipment and consume significant amounts of diesel fuel, contributing to resource shortages for farmers.