Since December of last year, the country has prohibited Bitcoin mining. Due to its extreme heat or cold seasons, they needed to increase the available power on the energy grid, and forcing crypto miners to shut down was among their first moves to do so.
Midway through the previous year, mining farms were granted permits on the condition that they utilize on-site generators to at least lower the energy taken from the public power system. But a few weeks later, access to public electricity was again prohibited.
The Iranian government has lifted the ban, stipulating that electricity must be provided only from renewable sources.
Typically, miners love the chance to switch to renewables, as electricity generated from renewable sources is less expensive than traditional fuels. As a result, Bitcoin mining farms can reduce their production costs and boost their profitability by utilizing renewable energy.
This is not limited to renewable energy that miners produce through solar technologies; they can also buy from power companies as long as they purchase energy generated renewably.
We expect an increase in hash power coming from the country whose government is still on a list of countries with which most western governments don’t do business because of ties to terrorist groups.
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