Iranian police have reportedly seized 7,000 bitcoin mining machines operating illegally in the country. The machines were found in an abandoned factory west of the capital.
7,000 cryptocurrency mining machines have been seized by Iranian authorities, state news agency IRNA reported Tuesday, noting that this is Iran’s largest seizure of cryptocurrency mining machines to date.
Tehran police chief General Hossein Rahimi said that the mining machines were seized at an illegal mining farm — an abandoned factory west of the capital.
Cryptocurrency mining is an authorized activity in Iran and miners are required to obtain a license from the country’s Ministry of Industry, Mine, and Trade. However, many miners are operating in Iran without obtaining a license, the authorities claim.
An analysis by blockchain analytics firm Elliptic shows that about 4.5% of all bitcoin mining takes place in Iran and the country is using cryptocurrency to circumvent sanctions. Furthermore, Elliptic stated
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