Winter season is Coming: Iran Temporary Halts Regional Bitcoin Mining to Avoid Electrical Energy Blackouts

Winter Bitcoin

The Iranian Ministry of Energy has actually ordered local authorized cryptocurrency miners to temporarily suspend their activities in the face of electrical energy shortages during the coldest months of the year. This is the second time authorities take steps of this kind as they did the same between Might and September this year.

Exact Same Ban, Various Season

After blaming BTC mining for electrical power blackouts, the Iranian government put a temporary ban at the end of May. The country’s authorities declared that its electrical energy network would stop working to sustain the rush during the most popular duration of the year and stopped cryptocurrency mining operations up until September 22nd (when the weather condition starts cooling down).

Three months later, the local Ministry of Energy carried out the same guidelines ahead of the winter season when the energy intake increases to maximum levels again. In an interview for a local media, Mostafa Rajabi Mashhadi– Chairman of Iran’s Grid Management Business (Tavanir)– said:

“The Energy Ministry has actually been executing steps since last month to lower making use of liquid fuels in power plants, consisting of cutting certified crypto farms’ power supply, turning off lampposts in less risky locations, and rigid supervision of intake.”

The executive explained that the move is essential since according to the projection of the Meteorological Organization, the air temperature level will start decreasing from today. This would result in a spike in electrical energy intake and would interfere with the country’s energy network.

The authorities were quite stringent during the previous crackdown on cryptocurrency mining operations. In June, they confiscated about 7,000 cryptocurrency mining devices found in an abandoned factory in Iran’s capital– Tehran.


Mining Trends around The World

Iran has actually been among the worldwide leaders in cryptocurrency mining, accounting for between 3% and 4% of the total hash rate on the network.

Since writing this, the United States of America is responsible for the majority 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 noting that this ranking was highly affected by the overall crypto ban which individuals’s Republic of China imposed this summer season. Prior to that, the most-populated country was the undisputed leader in regards to international hash rate.

SPECIAL DEAL (Sponsored) Binance Free $100 (Special): Utilize this link to sign up and receive $100 free and 10% off costs on Binance Futures very first month (terms).

PrimeXBT Special Offer: Utilize this link to sign up & enter POTATO50 code to get 25% off trading costs.


Share on facebook
Share on google
Share on twitter
Share on linkedin
Share on pinterest

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Want To Stay Updated On the Latest Crypto News? Get the all the important news in Crypto, NFTs & all things Metaverse Instantly! No Yes

We use cookies to give you the best online experience. By agreeing you accept the use of cookies in accordance with our cookie policy.