Iran

Auto Added by WPeMatico

1.2 Billion People Live Under Double-Digit Inflation, ‘Many Have Found Escape in Bitcoin’ Says HRF’s Alex Gladstein

by

While central banks are focusing on creating more stimulus and economists expect inflation in the U.S. to rise, a number of other countries are suffering from considerable inflation right now. On Monday, the chief strategy officer for the Human Rights Foundation, Alex Gladstein, explained that 1.2 billion global citizens are living under inflation rates as … Read more

Iran Seizes 45,000 Bitcoin Miners for Illegally Using Subsidized Government Electricity: Report

by

Police in Iran have reportedly seized 45,000 bitcoin mining rigs for illegally using subsidized electricity from the state-owned power utility Tavanir, the local Tasmin News Agency reported this week. According to Mohammad Hassan Motavalizadeh, head of Tavanir, the efficient application-specific integrated circuit (ASIC) bitcoin miners had been consuming 95 megawatts (MW) per hour of electricity … Read more

Iran Shuts Down 1,620 Cryptocurrency Mining Farms

by

Since Iran began recognizing cryptocurrency mining as an industry, it has reportedly shut down 1,620 unauthorized crypto mining farms. Crypto miners initially welcomed the recognition but later said that the electricity tariffs were too high. 1,620 Crypto Mining Farms Shut Down in Iran Iranian authorities have reportedly closed down 1,620 illegal cryptocurrency mining farms since … Read more