Iran Allowed Bitcoin Mining
The Iranian government decided to allow licensed cryptocurrency miners to resume operations in the country.
In May, former Iranian President Hassan Rouhani banned the mining of cryptocurrencies in the country over fears of maintaining the stable operation of power grids.
Due to the abnormal heat in the summer, there were frequent power outages in this country. On some days, the heat exceeded 120 degrees Fahrenheit or almost 49 degrees Celsius.
Due to power outages and water shortages, Rouhani decided to ban cryptocurrency mining for this period. After the heatwave subsided, the next president, Ebrahim Raisi, lifted the ban on cryptocurrency mining on August 3, 2021.
About 4.5% to 7% of the world’s cryptocurrency mining is produced in Iran.