Iranian Mining Heaven

Iranian ‘Mining’ Heaven Turns Turbulent

Cryptocurrency mining has been used in Iran as a method to bypass strict sanctions and also as an alternative to keeping wealth stored in Iran’s inflating domestic currency. The government is now threatening to raise the electricity rate to $0.07 per KWh for such miners. The current subsidized rate is half a cent per kWh. An Iranian minister has called the country a ‘heaven’ for miners but significant challenges are now arising. Televised raids of mining farms are broadcasted and the government also seeks to ban the importation of mining equipment. 

Source: CoinTelegraph