Iranian authorities return 150k of confiscated crypto mining equipment

Iran is releasing up to 150,000 pieces of crypto mining equipment previously seized by authorities following a court order. Since 2021, the Organization for the Collection and Sale of State-Owned Property (OCSSOP) confiscated it from mining farms due to concerns about power shortages.

OCSSOP will return all confiscated mining equipment

According to a tweet by DeFi UnCut, OCSSOP recently revealed that it had returned a significant amount of confiscated mining equipment following a direct order from the courts.

OCSSOP head Abdolmajid Eshtehadi revealed that the agency currently has 150,000 devices seized from 2021:

“Currently around 150,000 crypto mining equipment are held by OCSSOP, a large part of which will be released following judicial decisions. The machines have already been returned.

OCSSOP head Abdolmajid Eshtehadi

As the agency issues mining equipment, Eshtehadi highlights the growing energy concerns due to the impact of crypto mining activities within the country. According to him, the Iran Power Generation, Transmission and Distribution Company (TAVANIR) should devise measures to address the issues if the country plans to avoid any further damage to the national grid as mining activities resume.

Iran’s Crypto Mining Dilemma

Despite allowing crypto mining farms that have obtained the necessary licenses, Iran has had to take drastic measures to deal with large-scale mining activity on the country’s national grid. In June 2022, officials Close Power supply to all 118 authorized mining farms within the country as power consumption has reached a record high of 62,500 megawatts (MW).

The seizure of mining equipment was one of the measures planned by the authorities to address concerns posed by the booming local crypto mining industry. it started 2018 is booming, as the country has seen an increase in the number of mining entities. Along with this came a rise in illegal crypto mining, which the government has been battling for years.

In addition, the boom put a strain on the country’s national grid. As a result, Iran had to ban crypto mining in 2021, but the ban lasted until March last year. The authorities then sought to regulate the industry by providing licenses for operations and cracking down on illegal mining. In May 2021, Iran starring A new policy to address the concerns of illegal mining.

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