Miners Flock to Iran Where Bitcoin Mining Is Set to Be Sanctioned

Iran’s Central Bank Will Allow Bitcoin Mining Operations as Miners Flock to the Oil-Rich NationAccording to regional reports, the Central Bank of Iran (CBI) is planning to allow licensed cryptocurrency mining as long as operations are charged for electricity based on the price of export. The CBI governor, Abdol Nasser Hemmati, explained that mined cryptocurrencies should flow back into the Iranian economy. Also read: Bitcoin Miner Recounts Struggle to […]

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Iranian Energy Grid Blames 7% Consumption Increase on Bitcoin Miners

Mostafa Rajabi Mashhad, the spokesperson for Tavanir, an Iranian state-operated grid entity, has explained that electrical consumption has spiked by 7% in comparison to the previous year. Rajabi blames illegal cryptocurrency mining operations for the country’s increased electrical consumption and has warned that illicit mining facilities will be cut off from the grid. Also Read: […]

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Bitcoin Miner Recounts Struggle to Obtain Cheap Iranian Power

Bitcoin Miner Recounts Struggle Involved With Obtaining Cheap Iranian PowerOver the last six months, reports of Chinese miners crossing the border to obtain cheap electricity from regions like Vietnam, Cambodia, Thailand, and Iran have abounded. According to a recent interview, Chinese miners have found extremely affordable electric prices ($0.006 per kilowatt-hour) in the oil-rich nation of Iran. However, managing to get thousands of machines […]

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Iran Labels Telegram’s Coin a Threat to National Security

Iran Labels Telegram’s Coin a Threat to National SecurityTehran has once again targeted the users of the popular messaging application Telegram. A law enforcement official warned Iranian citizens against providing any support for the launch of the instant messaging app’s native token, the Gram. Also read: Bill to Curb Iranian National Crypto Filed in US Congress ‘Disruption to the National Economy’ Authorities in […]

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Bill to Curb Iranian National Crypto Filed in US Congress

Draft legislation designed to hamper Iran’s efforts to create a sovereign cryptocurrency has been introduced in the U.S. Congress. The Blocking Iran Illicit Finance Act bans U.S. citizens and companies from all transactions and dealings in Iranian digital currency. The bill also introduces sanctions against foreign nationals and organizations that support the development of the […]

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