Iranians Go Against Government’s Warning Regarding Bitcoin Mining Using Mosques' Free Electricity

With Iran’s local currency facing rapid devaluation, a lot of the country’s citizens are turning towards crypto mining-related ventures — since the cost of buying electricity in the region is extremely cheap ($0.006 per KWh).

  • Over the past seven days, a number of photos of crypto mining rigs operating from within local mosques have been shared extensively on platforms like Twitter, Redditt, Facebook etc within Iran.
  • Since the start of the year, there have been two reported instances of BTC miners (originally from countries like Spain, France, and China) moving to Iran due to the nation’s cheap electricity rates.

A few days ago, Tavanir — an Iranian energy grid corporation — announced its decision to clamp down on ‘illegal’ bitcoin mining operations by cutting them off of the company’s supply network. However, just a few hours after the announcement went public, hordes of people started sharing pictures of a mining facility that is allegedly housed within a local mosque.

Earlier this week, a spokesperson for Tavanir, Mostafa Rajabi Mashhad, claimed that as a result of illegal mining operations running rampant within Iran, the nation’s power consumption had spiked by more than 7% over the past couple of months. Not only that, a few weeks back, reports began to circulate on the internet which claimed that a lot of miners were carrying out their activities from places like government buildings and mosques (so as to avoid being detected by the current political regime).

Just hours after Mashhad announced Tavanir’s decision to shut down illegal BTC mining operations within Iran, a Twitter user called ‘Rmahdavii’ went ahead and shared a photo of a bitcoin mining operation that was being run from inside a mosque.

As things stand, mosques in Iran receive free energy from the government.

Miners running their operations from such sites are allegedly drawing in profits of around $260,000 USD a year.

The United States has imposed a number of economic sanctions against Iran, as a result of which, the middle-eastern nation is being faced with a lot of financial turmoil. Not only that, following a recent military escalation which saw the Iranian military shoot down a U.S. drone last week, President Trump signed an order to ascribe further sanctions against Iran and its leaders.

In closing out this piece, it should be mentioned that just a day after President Trump imposed a set of fresh new sanctions against Iran, the nation’s crypto market saw a dramatic rise in its overall capitalization.

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Shiraz J
Shiraz is a multi-year cryptocurrency analyst and blockchain journalist residing in Melbourne, Australia. When he is not writing about the bitcoin ecosystem, he enjoys the art of meditation, playing the blues and traveling the world.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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