Iran, just like other countries with a very unstable economy, has had a wobbly policy when it comes to cryptocurrencies. From one side, the government is trying to abolish the use of cryptocurrencies among the population. From the other side, the government has announced that it itself will launch new cryptocurrencies.
According to experts from Forex Library, such sanctions might avert the development of crypto industry in Iran, thus the country will lose this new chance to help its failing economy.
Under these unclear circumstances, the local bitcoin miners in Iran are coming up with creative ways of dealing with challenges presented by the government. According to the recent news from the country, numerous miners have found shelter in Iranian mosques. The reason for this is not just the divine atmosphere at these places. The explanation lies in the fact that the government is subsidizing energy use for places of worship.
With bitcoin mining being the last hope for a share of the population to improve their financial situation, it has taken up a noticeable portion of Iran’s energy use. Reportedly, the use of electricity for bitcoin mining has reached as much as 7% of the total use of electron energy in Iran just this June. As a result of these statistics, the Iranian government has been trying to prevent almost a thousand bitcoin miners from continuing their actions.
Right now, about 100 bitcoin miners are using the electron energy of a number of mosques. We are still left to wonder how the authorities are going to react to this fact.
Meanwhile debates in the world continue about the environmental imprint of bitcoin mining. While some researchers claim that it is unharmful, others are looking into ways to show that the increased use of electro power is actually damaging to the environment. Taking this into consideration, developed countries are trying to produce more alternative energy to support the crypto industry. One vivid example is the United States. A company in the US has announced its intention to build so far the biggest crypto farm in California that will be powered by solar energy.
Giorgi is a news reporter and financial analyst at www.forexnewsnow.com He has 3 years of experience in analyzing the financial markets of Forex and cryptocurrencies. He also likes making hidden jokes in his articles.