Iran is making a massive push into Bitcoin, with hundreds of hydroelectric power stations ready to go. The White House is calling for a quick stop

According to media reports, since January this year, more than a dozen provinces and cities in Iran have experienced large-scale power outages. From January 11 to 13, the capital Tehran randomly cut off power for about two hours a day, plunging more than 10 million people into darkness. The Iranian authorities pointed to the mining and mining of a virtual currency , Bitcoin, as the source of all this. According to statistics from the Bitooda website, Iran is the world's third largest Bitcoin holder after the United States and China, accounting for 8% of the total currency. It is reported that as a country sanctioned by the United States, it is now counting on Bitcoin transactions to break the US financial sanctions.
According to El Chapuzas Informatico, an investigation conducted by Iranian authorities showed that Iran's recent power outages were caused by the growing popularity of mining farms in the country. It is reported that Iran now has 14 large mining farms, which consume about 300 megawatts of electricity, which is equivalent to the energy consumption of a city with 100,000 residents. According to research by the University of Cambridge, Iran is one of the world's six major mining farms. The electricity price in Iran is about US$0.018-0.022 per kilowatt-hour, which is about RMB 0.1-0.2 yuan, less than a quarter of the domestic price. Cheap electricity has aroused the enthusiasm of local and local miners, and naturally attracted domestic mining companies to invest in setting up factories in Iran for mining. According to reports, many Chinese miners are moving their mining operations to Iran.
As we all know, miners from all over the world are mining in full swing, especially those sanctioned by the United States, hoping to break the financial sanctions of the United States by trading Bitcoin. Venezuela even used military resources to mine. According to statistics from the Bitooda website, Iran is the world's third largest Bitcoin holder after the United States and China, accounting for 8% of the total currency. This is because cheap electricity has aroused the enthusiasm of local and local miners, and Chinese people have been investing in factories and mining in Iran. But starting on January 11, an unprecedented blackout swept across Iran, and the situation suddenly changed after that. On January 12, the spokesman of the power industry, Mashadi, directly defined "illegal mining of Bitcoin" as the culprit of the power outage, and the Minister of Electricity, Ardakonyan, said that mining by Chinese mines was one of the reasons for Iran's power outage. Therefore, on January 14, the Iranian government officially announced the suspension of mining activities of all licensed Chinese Bitcoin companies in the country. In order to solve the problem of power supply, hundreds of hydropower stations in Iran have been prepared recently, but the White House called for a quick stop. (NetEase News)