Iran's Crypto Mining Consumption Hits Peak Summer Electricity Deficit

Cryptocurrency mining in Iran is putting pressure on the country's strained grid. The sector consumes between 930 to 1,200 megawatts of electricity, equivalent to about 14% of the country's monthly electricity deficit during peak summer demand.

This translates to around 700 million kilowatt-hours of electricity each month, compared with an average monthly deficit of 5 billion kilowatt-hours. Mining accounts for about 6% of the total electricity imbalance over a four-month period.

If the mining load were supplied through thermal power plants, it would require about 8.46 billion kilowatt-hours of electricity annually and 2.1 billion cubic meters of gas-equivalent fuel. This would come at an annual cost of around $1.5 billion, excluding electricity-conversion costs and lost economic output.