2018-12-12 13:00 |
Some crypto miners are looking to Iran for its low-cost power – but the path to setting up shop in the country is anything but simple.
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Discounted tariffs made Iran attractive to miners, now the country is having a hard time closing the gap between the production and consumption of electricity.
The Ministry of Interior of the Islamic Republic has suspended the Iran Blockchain Association (IBA). The measure comes after the organization allegedly breached government regulations. IBA unites participants in the country’s growing crypto sector who are engaged in blockchain technology development.
Over the last six months, reports of Chinese miners crossing the border to obtain cheap electricity from regions like Vietnam, Cambodia, Thailand, and Iran have abounded. According to a recent interview, Chinese miners have found extremely affordable electric prices ($0.