After a series of blackouts in major cities in Iran, the county’s president, Hassan Rouhani, has placed a ban on Bitcoin mining. The president announced the four-month ban on the country’s state television network on the 26th of May. Bloomberg noted that the ban would be lifted on the 22nd of September.
While speaking, President Rouhani mentioned that about 85% of crypto miners in Iran are likely unlicensed.
Iranian officials have blamed the heat, drought, and energy shortage in the country on crypto mining. Speaking on the blackout, parliament member, Hossein Haghverdi, said the power problem has become “a serious security issue.” He further urged the government to investigate and address the issues.
Amid the ongoing blackout challenges in Iran, a spokesperson for one of the electricity companies in the country said the company had to disconnect some government bodies from the power grid. The spokesperson said that four government bodies were “overusing” power, and they were eventually cut off on the 22nd of May.
At the same time, some registered mining farms have voluntarily suspended operations to help minimize energy consumption in the country.
Iran’s announcement came after China announced a nationwide crypto ban, affecting several mining operators in the country. One of the mining operators in China, BTC.TOP said it would be moving its business to North America.
Image Credits: Pixabay
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