Iran’s decision to ban Bitcoin mining left a sour taste in the mouths of miners and the wider cryptocurrency community. However, in a stroke of luck, the country has made a U-turn and reversed the ban on mining activities.
Iran Lifts The BanAccording to reports from Iranian publication, Iran International, the Middle Eastern country has allowed bitcoin miners to resume mining activities once again. This comes after a four-month mining ban that was put in place by ex-President Hassan Rouhani to reduce the burden placed on electricity supply in the country, particularly during the summer months.
During summer, Iranian energy usage is at an all-time high as several households rely on air conditioning to go through the hot summer months. The ban was necessitated as a result of the activities of unauthorized bitcoin miners with Rouhani stating that licensed miners only accounted for 30 megawatts while unauthorized miners used a staggering 2,000 megawatts.
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