Iran issues temporary ban on Bitcoin mining until Sep 22
As Iran draws closer to its peak electricity demand season, the country’s government has issued an order banning Bitcoin mining until September 22.
The Iranian government has taken rather drastic steps to clamp down on Bitcoin mining in recent times. About a week ago, Bloomberg reported that the government had enlisted intelligence officers (spies) to locate and stop miners who use household electricity.
In a more stringent move, President Hassan Rouhani announced on state TV on Wednesday that Iran was banning crypto mining activities (effective immediately) until September 22. The decision comes after officials blamed crypto mining of digital assets like Bitcoin for a series of blackouts across major cities.
Although the country previously revealed that some mining operations would be legalized, a lot of illegal crypto mining still goes on behind the scenes. About 85% of these activities are still considered illegal.
According to Cambridge University’s mining map, Iran is the six-largest contributor to crypto mining activities, responsible for roughly 4% of Bitcoin’s hash rate.
Bitcoin has been badly hit by several restrictions on mining activities lately. As reported by BTC PEERS, China recently announced a nationwide crackdown on BTC mining.
