Iran Bans Bitcoin Mining Over Power Grid Concerns

The government of Iran has announced a ban on bitcoin mining in the country until late September, according to Iran Front Page.

This move, which was announced by the country’s president, Hassan Rouhani, was necessitated by the huge burden placed on the national power grid by bitcoin mining activities in the country, per the report.

“The authorized mining of cryptocurrencies does not consume much electricity and needs just around 300 megawatts,” Rouhani said, according to the report. “However, it is unauthorized crypto miners that consume a lot of electricity; they consume about 2,000 megawatts.”

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