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Iran seizes 1,000 Bitcoin mining machines after power spike
Source: BBC
Iran seizes 1,000 Bitcoin mining machines after power spike
28 June 2019
Authorities in Iran have seized roughly 1,000 Bitcoin mining machines from two former factories, according to state TV reports.
The action was taken following a spike in electricity consumption.
Demand for power rose by 7% in June and cryptocurrency mining was thought to be the main cause, an energy ministry spokesman told local state-run media.
One researcher said Bitcoin was gaining more and more attention in Iran as a potential means of storing wealth.
"Two of these bitcoin farms have been identified, with a consumption of one megawatt," Arash Navab, an electricity official, told state television.
-snip-
28 June 2019
Authorities in Iran have seized roughly 1,000 Bitcoin mining machines from two former factories, according to state TV reports.
The action was taken following a spike in electricity consumption.
Demand for power rose by 7% in June and cryptocurrency mining was thought to be the main cause, an energy ministry spokesman told local state-run media.
One researcher said Bitcoin was gaining more and more attention in Iran as a potential means of storing wealth.
"Two of these bitcoin farms have been identified, with a consumption of one megawatt," Arash Navab, an electricity official, told state television.
-snip-
Read more: https://www.bbc.com/news/technology-48799155
Bitcoin mining centres often house hundreds or even thousands of computers dedicated to the cryptocurrency network (Getty Images)
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