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Iran: Crypto Miners Set Up Bitcoin Mining Site in Mosque Following Energy Crackdown

| 29-Th6-2019

Iran-based Bitcoin (BTC) mining firms have reportedly established their businesses in mosques, following an energy crackdown from the authority.

Reported by a social account on June 25th, an approximate number of 100 Bitcoin miners have set up their shops in mosques – as the Iranian government provide free electric power to worshipping institutions in the country – have been earning an annual income of $260,000.

“This money goes a long way in Iran’s choked sanctioned economy,” Oxford University researcher Mahsa Alimardani commented regarding the news via Twitter.

Despite the progressively troubled state its economy is in at the moment, the crypto policy in Iran still appears highly unorganized.

In 2018, the central bank of Iran has issued an official ban on crypto transactions, prohibiting financial institution to do business with crypto-related firms, while at the same time hinting that the Iran authority might have plans of rolling out its own digital token.

The Iranian government is setting to shut down the miners operating in mosques, as they contribute to a 7% surge in power consumption, but have only been successful at identifying 2 establishments.

“Two of these bitcoin farms have been identified, with a consumption of one megawatt,”Arash Navab, an official from the energy industry in Yazd province, revealed to the media.

Prior to this incident, the Iranian authorities has reportedly considered crypto mining as an official industry of the nation.

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