Iran has become the world's fourth largest cryptocurrency mining center

The CEO of the Tehran Province Power Distribution Company, Akbar Hasan Beklou, stated that thanks to substantial electricity subsidies, Iran has become the world's fourth-largest cryptocurrency mining center, but it has also become "a paradise for illegal miners."

It is reported that Iran's cryptocurrency mining industry is facing a widespread illegal mining crisis, with over 95% of the 427,000 active mining devices in the country operating without authorization, consuming more than 1,400 megawatts of electricity, which also puts immense pressure on the power grid and threatens the stability of power supply.