Tehran faces power outages due to massive crypto mining operations consuming up to 450 megawatts, with that power capable of powering a city of 100,000

Courtesy of @I_Leak_VN

Everyone already knows that crypto miners are causing a shortage of the latest graphics cards on top of the pre-existing shortages, but now large-scale mining farms are causing blackouts. In Iran, authorities investigated the cause of the power outages and found that the root cause was that GPU mining farms were consuming huge amounts of power.

Mining has gotten so bad that cities are facing power outages due to insane power consumption on major mining operations

It’s not just medium-sized mining farms run by a miner, it’s full industrial-level operations that have been moved from China to Iran. In Iran, electricity is produced at a cost of 1.8 cents per kilowatt hour and sold more than 10 times that to the public, but miners can get it for 2.2 cents per kilowatt hour. Even China cannot match these prices, so the miners have moved their operations to Tehran because it is the most profitable.

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Courtesy of @I_Leak_VN

After investigations, Iranian authorities concluded that there were 14 huge crypto mining operations in Iran that consumed 300 megawatts, but at full capacity could consume up to 450 megawatts. For reference, so much power can provide a city of 100,000 people. All of this makes Iran the 6th most popular destination for cryptocurrency mining in the world.

The maps used in mining farms are not specially designed mining maps; these are normal consumer cards. Many are wary of Nvidia and its partners selling cards directly to minors, and Nvidia hasn’t said anything about it, so we assume they don’t object. Now laptops are even being bought to use their GPUs in mining operations. At this point, anything with a modern GPU in it, miners will try to get their hands on.

This is an unfortunate time for people trying to build a PC as getting their hands on a GPU is nearly impossible due to the initial shortage which is now worse with a boom in crypto mining as well as rising prices. the prices. Not only do you have to compete with the scalpers, but you also have to compete with the miners to get the latest graphics cards, and hopefully Nvidia and its partners won’t sell them directly to miners.