Iran Temporary Halts Local Bitcoin Mining to Prevent Electricity Blackouts

Iran Temporary Halts Local Bitcoin Mining to Prevent Electricity Blackouts

The Iranian Ministry of Energy has actually bought regional licensed cryptocurrency miners to momentarily suspend their activities in the face of electrical power scarcities throughout the coldest months of the year. This is the 2nd time authorities take procedures of this kind as they did the very same in between May and September this year.

Same Ban, Different Season

After blaming BTC mining for electrical power blackouts, the Iranian federal government positioned a momentary restriction at the end ofMay The nation’s authorities declared that its electrical power network would stop working to sustain the rush throughout the most popular duration of the year and stopped cryptocurrency mining operations up until September 22nd (when the weather condition begins cooling down).

Three months later on, the regional Ministry of Energy carried out the very same guidelines ahead of the winter when the energy usage increases to optimal levels once again. In an interview for a regional media, Mostafa Rajabi Mashhadi– Chairman of Iran’s Grid Management Company (Tavanir)– stated:

“The Energy Ministry has been implementing measures since last month to reduce the use of liquid fuels in power plants, including cutting licensed crypto farms’ power supply, turning off lampposts in less risky areas, and stringent supervision of consumption.”

The executive described that the relocation is required since according to the projection of the Meteorological Organization, the air temperature level will begin reducing from today. This would cause a spike in electrical power usage and would interrupt the country’s energy network.

The authorities were rather rigorous throughout the previous crackdown on cryptocurrency mining operations. In June, they seized about 7,000 cryptocurrency mining makers discovered in a deserted factory in Iran’s capital– Tehran.

Mining Trends around The Globe

Iran has actually been amongst the international leaders in cryptocurrency mining, representing in between 3% and 4% of the overall hash rate on the network.

As of composing this, the United States of America is accountable for most of the hash rate with 35.4%. Next in line with 18.1% is Kazakhstan, while the Russian Federation (11.2%) and Canada (9.6%) follow on the next positions.

It deserves keeping in mind that this ranking was extremely impacted by the overall crypto restriction which the People’s Republic of China enforced this summertime. Prior to that, the most-populated nation was the indisputable leader in regards to international hash rate.

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