Mining Newsاخبار ایران

Minister of Energy in Parliament: Extraction of digital currencies is the cause of power outages


Reza Ardakanian cited rising temperatures and mining as the two main causes of the recent blackouts, saying that according to international sources, 10 percent of the energy consumed to extract digital currencies belongs to Iran.

According to a digital currency report and quoted by ISNA, Reza Ardakanian said in a public session of the Islamic Consultative Assembly this Sunday morning and during a report on the causes of the recent blackouts:

The blue year 1399-1400, which started on the first of October, has been one of the driest years in the last 50 years. When I started my work in November 2017, the blue year 2017-2017 was also the driest year in the last 50 years. The useful volume of dam reservoirs that have hydroelectric power plants is known. This year, our useful volume has decreased by 50% compared to last year, and this has reduced the electricity capacity by 3,500 MW.

He continued:

The second event is premature heating, the earlier heating of the air has caused the cooling devices to be used sooner and the power plants to have less output power, so that on May 29 of this year, we reached a peak consumption of 53,800 MW, while in Last year, this peak consumption occurred on June 15 and in previous years on July 1 and 9.

The Minister of Energy, stating that in 1400, the average daily energy consumption increased by 22.5 percent, added:

In May of 1400, compared to the years 1399-1398, we saw an increase of 17.9 percent, also the third factor that was surprising is the discussion of cryptocurrencies. It may not have a very clear meaning in public opinion, so it is preferable to say that it is energy export. If the licensed miner does this, he exports energy, and if it is hidden, it is illegal. Energy consumption is much higher when ciphers are produced covertly.

Ardakanian continued:

From July of last year to April of 1400, with the help of law enforcement, the process of detecting illegal cryptocurrencies has been increasing and 175,000 devices have been confiscated. According to the latest report of world authorities, 10% of the energy consumption of cryptocurrencies in the world is related to Iran, which means that at least 2,000 MW is spent on cryptocurrency production, while according to the Cabinet, the number of licensed ones is not more than 321 MW. Therefore, it is expected that measures will be considered in this regard in coordination with the relevant agencies.

The Minister of Energy reminded:

The conclusion of the relevant committee by the National Security Council as well as the Supreme National Security Council is that the increase in temperature and cryptocurrencies are the main cause of the blackouts, which, God willing, will be addressed with the cooperation of the judiciary. Also, drought, lack of water in the dam to generate electricity and early temperature increase and the use of ciphers caused our consumption growth to be 19% compared to all previous years, ie our peak consumption by the end of May this year increased by 8500 MW compared to last year.

Emphasizing the need for systematic activity of miners, the Minister of Energy stated:

We also kiss the hand of the Islamic Consultative Assembly, which regulates these activities and imposes penalties for wrongdoing. For every bitcoin, 300 megawatt hours of energy must be consumed, which means that 30,000 homes must be cut off day and night to produce one bitcoin. I have no doubt that this will generate foreign exchange earnings, but 321 MW of production is allowed. We need to systematize this so that it does not develop illegally in hot and humid conditions.

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