Iran seizes 1,000 machines intended to mine bitcoin

Iran is a country in which the price of electricity is quite cheap. Therefore, the country has become the ideal destination to mine Bitcoin. This has caused a huge increase in this regard, with the notable increase in consumption that this implies. In fact, in these weeks the electricity consumption in the country has shot up 7%. A clear example of this, which forces the government to take action.

Iran seizes 1, 000 machines intended to mine Bitcoin

Since they have seized a total of 1, 000 illegal machines destined to undermine the popular cryptocurrency. They have been found in two factories that were allegedly abandoned.

Increased consumption

Mining Bitcoin has ceased to be profitable in many cases, which has caused many people to stop doing so. Low electricity prices in Iran make it especially profitable to engage in this activity. This is why there has been a notable increase in electricity consumption, due to the fact that it is carried out with increasing frequency.

This has caused areas throughout the country to emerge where the cryptocurrency is mined, in addition to others. It must be emphasized that cryptocurrencies are prohibited in the country. So the authorities work hard to find these facilities.

This is the largest seizure so far, although it will not be the last. Furthermore, it comes at a time when the value of Bitcoin has increased again. The reasons are unknown, as experts comment that there is never a clear reason. But this week the currency returned to reach 13, 000 euros, a figure that was not seen for a long time.

The Verge Font