May 27, 2021 BY Steffy Bogdanova
Iran President clamps down on bitcoin mining amidst power cuts
The cryptocurrency mining industry has become prominent in Iran partially due to the presence of highly subsidised electricity within an extremely power-reliant trade. With such subsidies in place, imports can then theoretically be paid for using bitcoin. However, the US has implemented sanctions that bar all banking transactions between themselves and Iran, and with blockchain…
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