Crypto mining allegedly worsening air pollution in Iran
Mining for Bitcoin may be contributing to “thick layers of toxic smog” and blackouts across many Iranian cities. Go to Source Powered by WPeMatico
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Iran Shuts Down 1,620 Cryptocurrency Mining Farms
Since Iran began recognizing cryptocurrency mining as an industry, it has reportedly shut down 1,620 unauthorized crypto mining farms. Crypto miners initially welcomed the recognition but later said that the electricity tariffs were too high. 1,620 Crypto Mining Farms Shut Down in Iran Iranian authorities have reportedly closed down 1,620 illegal cryptocurrency mining farms since … Read more
Venezuela ramps up Bitcoin payments for imports from Iran and Turkey
Venezuela President Nicolás Maduro claims the country will “use all the cryptocurrencies in the world” to bypass U.S. sanctions. Go to Source Powered by WPeMatico
Iran Grants Bitcoin Miners Exclusive Access To Electricity From Three Power Plants
Iran has granted bitcoin miners exclusive access to electricity generated from three power plants for their mining activities, according to state power utility Thermal Power Plant Holding Company (TPPH). Mohsen Tarztalab, managing director of TPPH, told a local news agency on Monday that the “necessary equipment has been installed in three power plants of Ramin, … Read more
Iran’s crypto mines could be used to help fund car imports
It seems that the private sector is not satisfied with the country’s local fiat money. Go to Source Powered by WPeMatico
Geopolitical risks prevail as new players emerge in the crypto mining space
China is not the only country that wants control of this highly coveted industry. Go to Source Powered by WPeMatico
The Bitcoin Network Now Consumes 7 Nuclear Plants Worth of Power
The SHA256 hashrate that secures the Bitcoin network has grown massively during the last few years, as Bitcoin’s processing power has touched all-time highs in 2020. Moreover, the gigawatts of electrical consumption powering industrial bitcoin mining today consumes as much as seven nuclear power plants. Bitcoin mining is a process where groups of miners compete … Read more
The Iranian government took down over a thousand crypto mining farms
Iran is rewarding people who turn in crypto miners operating without a license. Go to Source Powered by WPeMatico
Iran Shuts Down 1,100 Illegal Bitcoin Miners; Whistleblowers Rewarded $2,400
Iran’s Power Generation, Distribution, and Transmission Company (Tavanir) has reportedly shut down 1,100 illegal bitcoin mining farms in the country, local media reported. Whistle-blowers tipped off authorities on unauthorized miners following a July announcement of rewards including 100 million rials (about $2,400). Tavanir deputy head Mostafa Rajabi Mashhadi told Fars News Agency that the blitz … Read more
Chinese Bitcoin Miners Develop Strong Relationships and Crypto Mining Facilities in Iran
During the last few months, crypto proponents have focused their attention on Iran. The Iranian President Hassan Rouhani initiated a new mining strategy last May, and the government-licensed 14 bitcoin mining farms in July. According to the Chinese mining operation Lubian, it claims to operate one of these regulated bitcoin mining farms in the oil-rich … Read more