2021-06-13

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Iran forbade mining cryptocurrency due to the upcoming increase in electricity demand

2 min read

Iran banned energy consumption cryptocurrency, such as Bitcoin, on the eve of the maximum demand for electricity. Extremely large consumption of electricity for mining has already led to a disconnection of power grids in large cities of the country, and a new ban is aimed at preventing such situations in the future. The restriction enters into force immediately and will be valid until September 22, President Iran Hasan Rukhani (Hassan Rouhani) said.

Bloomberg

Note that in the country, the criptoslaw production activities should be carried out only if there is a license that only 15% miners boasts. Experts are agitated that the new government decision can push them to the transition to the shadow mining. Note that the Iranian authorities are trying to eradicate illegal mining by all forces, without even spyware for the detection of illegal cryptocurrency miners, which sometimes hide computers even in mosques.

According to the analytical company ELLIPTIC, subsidized prices for electricity and economic sanctions that limit access to foreign currency made Iran with a cereal place for miners. Iranian officials accusers cryptocurrency miners, production growth and drought, which reduces hydroelectric energy production, in electricity disconnections that cause damage to the business and daily life of the country.

Now Iran is negotiating with the United States and other countries on the resumption of the 2015 nuclear transaction. According to its conditions, the government should admit Western inspectors to their nuclear facilities, and Western countries, in turn, will weaken the sanctions and will allow foreign companies to invest in Iran’s infrastructure development.

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