CoinDesk Podcast Network THE MINING POD: Bitcoin Mining in Iran w/ Masih Alavi
May 6, 2025
Join Masih Alavi, CEO of ViraMiner and expert on Iran's Bitcoin mining scene, as he unpacks the underground world of crypto in his homeland. With only 5 MW of legal mining versus a staggering 2 GW stealthily operating, he reveals how outdated hardware helps Iranians navigate sanctions. Alavi discusses why high tariffs drive miners underground, their ingenious methods to stay hidden, and the surprising reality that 18 million Iranians own crypto assets despite a challenging landscape. Tune in for an eye-opening look at resilience in the face of adversity!
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Legal vs Illegal Mining Scale
- Only about 5 MW of Bitcoin mining in Iran is legal, while roughly 2,000 MW operate illegally.
- High tariffs and sanctions push miners underground to evade government restrictions.
Hidden Illegal Mining Sites
- Illegal miners often run rigs in basements and places like jewelry stores to avoid detection.
- Many miners operate in 'silent boxes' connected before electric meters to hide their usage.
Profitability of Old Miners
- Obsolete miners like S9s and M3s remain profitable due to high Bitcoin prices and converting to USDT.
- The high energy tariffs make official mining too expensive, pushing miners to operate illegally.