Iranian Authorities Seize 1,000 Bitcoin Mining Machines

Iranian authorities have seized 1,000 bitcoin mining machines from two abandoned factories. The two farms were noted by an energy official in Iran to have an energy consumption of one megawatt. The news comes only weeks after the deputy energy minister of Iran spoke about the amount of electricity cryptocurrency miners are consuming and how much it is costing the government in subsidies. Cryptocurrency miners are noted to have driven a spike in the consumption of government subsidized electricity in Iran.

Source: Reuters