Comment
Author: Admin | 2025-04-27
Iranian Government pursues illegal Bitcoin miners due to high energy consumption. Iran is a leading spot in the world for crypto mining. In fact, approximately 4.5% of all crypto mining globally takes place in Iran. And what is more interesting is that a significant percentage of this mining is illicit. Now, the Iranian government is reporting an excessive amount of energy consumption. And they are pointing towards Bitcoin and crypto mining as a major cause. Many crypto miners in Iran are “underground”According to an article from Bloomberg.com, The Iranian Students’ News Agency reported that the Ministry of Intelligence in Iran has begun organizing task forces to bring down “underground” crypto miners. An energy grid operator in Iran called Tavinir already cut power in parts of Iran in order to manually reduce the excessive energy consumption. Iran has become a hot spot in a way for crypto mining because of the affordable rates of energy use. People from China and other parts of the world come to Iran to set up business for this reason. According to an article from wsau.com, the energy consumption is quite excessive as we’ve mentioned. An excerpt from the report reads,“The electricity being used by miners in Iran would require the equivalent of around 10 million barrels of crude oil each year to generate, around 4% of total Iranian oil exports in 2020.”Is crypto helping Iran bypass sanctions?While there is a lot of illegal crypto miners, crypto mining in Iran is totally a legitimate industry. And
Add Comment