More Than 115 Smuggled Crypto Mining Rigs Seized by Iranian Authorities

More Than 115 Smuggled Crypto Mining Rigs Seized by Iranian Authorities

  • Last month, Iran’s Energy Minister revealed that the government was all set to implement a new rule change that will see crypto miners paying more for power when compared to the average consumer.
  • Ali Bakhshi, the head of Iran Electrical Industry Syndicate, recently commented that the price of electricity (per kilowatt) for crypto miners could be set as high as $0.07.

As per a story released by an Iranian media outlet — Fars News — local police authorities have arrested an individual for allegedly smuggling crypto mining rigs into the country from various offshore locations.

In regards to the matter, it appears as though members of the Saveh Anti-Trafficking Police were able to seize a truck allegedly carrying 117 cryptocurrency mining machines. The estimated value of the devices is estimated to be worth 11.7 billion Iranian rials (approx. $275k).

This story comes at a time when the Iranian government is looking to open its doors to the crypto mining industry. For example, there currently exist a number of digital entities seeking to acquire a license — for running a legal mining operation — from Iran’s Ministry of Industry, Mine and Trade.

As things stand, it is illegal to own/use cryptocurrencies within Iran. Additionally, the government does not bear any responsibility for losses that may be incurred through the use of these digital assets.

Jamal Arounaghi — Deputy President of Iran’s Customs Administration Agency — recently spoke to a local media outlet wherein he told the interviewer that his organization had not issued any licenses for the ‘importing of crypto mining equipment’.

Last month, the Iranian Economic Commission issued a brand new electricity rate scheme devised particularly for individuals involved with the mining of crypto assets.

And even though this new pricing structure is yet to be released, Iran’s Energy Minister — Homayoon Ha’eri — pointed out that market factors such as Gulf fuel rates will affect the price of the national power supply.