IRANIAN GOVERNMENT SEIZES OVER 1000 BITCOIN MINING MACHINES AFTER POWER SURGE by E. Okorie, 20th of June, 2019
The Iranian government recently seized over 1000 bitcoin mining machines after power surge in the country. According to our sources, Bitcoin mining has been a major target by investors ever since the bullish bitcoin pattern was observed since April 2019. This led to an increasingly more amount of bitcoin farms in the country. Subsequently, an increase in bitcoin farm also led to an increase in the rate of power consumption (by 7% in June) in the country. This eventually led to a power surge that disrupted the smooth supply of power to various consumers. In order to regain balance, over 1000 bitcoin mining hardware was seized by the government.
There is a high tendency that bitcoin experdiction would continue as US currently impose a ban on iran for the enrichment of nuclear Uranium. However, it is quite certain that the government is yet to authorize bitcoin mining on a large scale without clearance.