Mahmoud Goudarzi, vice president of markets, will run the company after he leaves Sahraee, according to a report by the country’s state media, the Islamic Republic News Agency, the Tehran Stock Exchange or TSE. The change in leadership appears to be due to the discovery of “several miners” in the basement of the Tehran Stock Exchange building in Sa’adat Abad district.
Tehran Stock Exchange is said to have initially denied the existence of the miners and stated that the device was part of a research project. However, Vice Chairman Beheshti-Sarst later said the company must be held accountable for its actions.
Iranian President Hassan Rouhani announced in May that Bitcoin (BTC) and cryptocurrency mining would be banned in the summer to reduce demand for the country’s power grid.
It is unclear when authorities discovered the mining platforms during a “surprise inspection” of the Tehran Stock Exchange basement, but the activity appeared to remain illegal until the last week of September.
During the ban, the authorities carried out numerous raids on large and small cryptocurrency miners, arrested illegally operating miners and punished households responsible for generating blocks. Most of the raids, however, focused on abandoned factories, homes, and small businesses – nothing as noticeable as Iran’s largest stock exchange.
Related: Iranian cryptocurrency miners who use household energy face heavy fines
Iran’s energy crisis has resulted in blackouts and blackouts, with many officials blaming cryptocurrency mining for sucking up all the juice. However, an August report from the country’s Department of Industry, Mining and Trade said that claims made by some authorities about energy use by cryptocurrency miners “appear to be exaggerated.”