With the upcoming summer, Iranian authorities have decided to halt crypto mining in the country... again.
With the upcoming summer, Iranian authorities have decided to halt crypto mining in the country… again.
The Middle Eastern nation has gone against licensed crypto miners and will shut down all 118 legal ones in two days, according to a recent report. The country’s authorities have already done something similar in the past, citing the growing electricity demand during the summer.by Bloomberg, Mostafa Rajabi Mashhadi, a spokesman for Iran’s power industry, said the nation will stop providing electricity to all 118 licensed mining operators starting from June 22.
As it happened last year, the authorities justified their decision with the growing demand for electricity as summer comes. Mashhadi highlighted a large number of power shortages in the past few weeks as the demand had surpassed 60,000 megawatts.at the end of September, but there’s no information about the country’s plans for 2022.
Unlike previous years, though, Iran’s share in terms of BTC mining has been declining, so shutting down all licensed operations in the nation will not have much of an impact on the hash rate.shows that Iran has fallen behind other nations. For example, it accounted for 6.9% of the total hash rate in June last year, while the percentage has dropped significantly to 0.2% as of January 2022.countless rigs that lacked the necessary government-issued licenses.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bitriver to Mine Crypto Using Excess Gas From Gazprom Neft’s Oil Extraction – Mining Bitcoin NewsRussian crypto mining operator Bitriver will use electricity generated from associated gas provided by Gazprom Neft to mint digital coins.
Read more »
Russia seems to be preparing to mine Bitcoin with flare gasRussia has big plans for crypto mining. State-owned gas company Gazprom Neft will provide flare gas to BitRiver, the largest crypto-mining service supplier in Russia.
Read more »
Bitcoin Briefly Dropped Below $17,800 as Sell-Off Accelerates — Here's What HappenedBitcoin fell below $17,800, and ether fell under $920, as the sell-off in the crypto market accelerates.
Read more »
Bitcoin Drops Below $18,300 as Sell-Off Accelerates — Here's What HappenedBitcoin has broken below $18,248, and ether has fallen to $944, as the sell-off in the crypto market accelerates.
Read more »
Bitcoin continues to fall, drops below $19,000 as crypto market tumult continuesBitcoin continues to fall, drops below $19,000 as crypto market tumult continues By michael40712627
Read more »
Hard Times in Crypto Lead to Price and Macro RiskAs the value of bitcoin goes up, it becomes more, not less, investable. As such, bitcoin’s market performance this year can seem troubling from that perspective. gckaloudis writes about Price & Macro Risk in this week’s Crypto Long & Short newsletter.
Read more »