Iranian Minister believes Chinese miners are using Iran's cheap electricity

08 Jul, 2019
by Colin Hawkins
Mining
Iranian Minister believes Chinese miners are using Iran's cheap electricity

Iranian Minister of Communications and Information Technology believes that due to the countries subsidised energy provided to citizens, Bitcoin miners have flocked to the area, according to the local news publication, PressTV, on July 6.

Iranian government minister Mohammad Javad Axari Jahromi believes the discounted cost of electricity is causing Chinese Bitcoin miners to set up in their area. His evidence to back up his claims are not as concrete as one may hope, claiming that he has heard it “unofficially.”

Although the claims are outlandish, they aren't immediately dismissed due to the fact that many Iranians pay just 5 cents per watt. In comparison to other nations, this is around 5% of what others may pay.

Jahromi also spoke on the fact that he believes the crypto mining influx into Iran is strictly from Chinese individuals, rather than a big move by the Chinese state:

“The Chinese government has no plan to be present in the field of cryptocurrency mining in Iran. However, China’s private sector and people may have been involved in this area.”

Follow Chepicap now on Twitter, YouTubeTelegram and Facebook!

2 BITCOIN moves to watch now! ALTSEASON not happening yet.. Here's WHY!Subscribe to the Chepicap YouTube Channel for more videos!

Add a comment

Check out the latest news

You will be logged out and redirected to the homepage