Illegal cryptocurrency mining has emerged as a significant contributor to the major power outages experienced in Iran’s capital city, Tehran and neighbouring provinces over October and November.
While authorities listed several causes for the rolling blackouts, illegal crypto mining was found to be one of the biggest causes of Iran’s power crisis.
Crypto Miners Exploit Iran’s Government-Subsidized Electricity
Iran’s capital city, Tehran and its neighbouring provinces faced a major power crisis in October and November, with electricity cuts disrupting people’s lives and businesses. While several factors are likely involved in the disruptions, illegal cryptocurrency mining has been named a major contributing factor.
Iran’s government-subsidized electricity has become a global hotspot for crypto mining since 2022. With the world’s lowest estimated cost of mining, many cryptocurrency miners have exploited the country’s cheap electricity. Cryptocurrency m
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