Bitcoin mining is one of the suspected causes of the power outages disrupting life in Iran

apnews.com

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Bitcoin mining is one of the suspected causes of the power outages disrupting life in Iran

apnews.com

@MicroWave to

World NewsEnglish • 5 days ago

Iran’s capital and outlying provinces have faced rolling power blackouts for weeks in October and November, with electricity cuts disrupting people’s lives and businesses.

Summary

Iran is experiencing widespread power outages, with cryptocurrency mining suspected as a contributing factor.

Bitcoin mining, which requires massive electricity, has surged in Iran due to subsidized energy and rising bitcoin prices, recently hitting $100,000.

Officials blame unauthorized miners using free or subsidized electricity, while public frustration grows over blackouts.

Iran’s energy crisis is compounded by sanctions, aging infrastructure, low fuel reserves, and climate change.

Authorities struggle to balance energy needs amid allegations of mining by paramilitary groups and fears of economic dependence on volatile cryptocurrencies.

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@Mango
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1•4 days ago
It’s not bitcoin’s fault. They’re just saying that Bitcoin is worth less than the other things they would rather send their electricity to. Some raindrops are wetter than others.

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