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Iran banned all crypto-mining for the next four months

Iran banned all crypto-mining for the next four months. The cause are widespread power outages, due to unusually low rainfall. Legal operations consume about 300MW of electricity, but illegal up to 2,000MW

Iran has banned all cryptocurrency mining for the next four months, due to widespread power outages. It has been reported by Al Jazeera. President Hassan Rouhani said that all those operations the country must shut down until the end of the sixth Iranian calendar month (September 22). Rouhani explained on a cabinet meeting that legal crypto-mining operations consume about 300MW of electricity, which is very insignificant. But illegal operations consume up to 2,000MW. Provinces across the country, especially Tehran, have been battling sporadic power outages that have frustrated many citizens. Social media are filled with images of how surgery rooms, businesses and homes have been impacted by unannounced power cuts that can strike several times a day. Power outages are usual each summer in Iran, but this year arrived even earlier due to unusually low rainfall, that has impacted hydroelectricity production.

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