Iran banned the mining of cryptocurrencies like Bitcoin after a series of blackouts across major cities, in the latest sign of growing unease over the digital asset’s energy usage. The ban is effective immediately and will last until Sept. 22, President Hassan Rouhani said on state TV on Wednesday.
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The ban is the second time this year that Iran ordered a shutdown of authorised cryptocurrency mining centres to ease the strain on the country’s power plants.
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For the second time this year, the Islamic Republic of Iran has banned the mining of bitcoin and other cryptocurrencies in an attempt to ease pressure on its crumbling energy infrastructure.31 Ara 2021
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Tehran currently allows cryptocurrencies such as Bitcoin to be mined in Iran and offers cheap power to licensed miners while requiring them to sell the cryptocurrencies to the Central Bank.2 Tem 2021
Read moreDoes Iran mine bitcoin?
The Iranian government has officially lifted the ban on mining for cryptocurrency for licensed operators. However, around 85% of the cryptocurrency mining in the country occurs illegally , taking a toll on this power grid.
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