Iran will cut off electricity to 118 legal licensed cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. centers, according to Bloomberg report.
- Iran will cut electricity to cryptocurrencies from June 22nd.
- The country faces increased demand for energy and fears shortages.
- La demanda en el país supera los 63.000 megavatios.
Iran, the Islamic republic of the Persian Gulf, seemed to want to become a global mining a process where blocks are added to a blockchain, verifying transactions. It is also the process through which new bitcoin or some altcoins are created. center. Last year, the Ministry of Commerce itself issued licenses for cryptocurrency mining . In addition, also in 2021, to strengthen the activity he proposed a bill to regulate cryptocurrency mining.
Now, the new information is that the country, which like many parts is suffering from the energy crisis, will cut power to all of its 118 legal cryptocurrency centers this month as the country faces an increased demand for energy.
According to a report by Bloomberg , electricity to the 118 legal cryptocurrency centers in Iran will cease as of June 22nd ahead of a seasonal increase in power demand, Mostafa Rajabi Mashhadi, spokesman for the country’s energy industry, said during an interview with Iranian state television. Mashhadi also warned the country of increasing power shortages this week as demand exceeds 63,000 megawatts.
Iran’s relationship with cryptocurrency has been strained, it saysThe Block. Following the legalization of cryptocurrency mining, cryptocurrency farms have sprung up. Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions. licensed in the country, given that its energy is cheap relative to elsewhere. According to studies, Iran has also used cryptocurrency mining to lessen the impact of sanctions imposed on the country.
At the same time, however, the country has cracked down on illegal mining activity, seizing 7,000 cryptocurrency units in June last year. It has also taken steps to shut down illegal cryptocurrency mining farms, disconnecting them from the national power grid and prosecuting the miners contributors to a blockchain taking part in the process of mining. They can be professional miners or organizations with large-scale operations, or hobbyists who set up mining rigs at home or in the office. in question. It also previously imposed a ban on its licensed cryptocurrency centers in December for energy-saving measures.
Such policies have had an impact on the mining industry in Iran. The analysis firm Blockchain a distributed ledger system. A sequence of blocks, or units of digital information, stored consecutively in a public database. The basis for cryptocurrencies. Elliptic estimated in May last year that 4.5 per cent of all mining in the Bitcoin was carried out in the country. It has now dropped to 0.12% as of January, according to the Cambridge Centre for Alternative Finance (CCAF). Here you can see it on the map:
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