After several blackouts in major Iranian cities, Hassan Rouhani has banned Bitcoin mining. On the 26th May, the president declared a four-month ban on Iran’s state television network. Bloomberg stated that the ban would be lifted the 22nd September.
During his speech, President Rouhani stated that approximately 85% of crypto-miners in Iran do not have licenses.
Officials in Iran blame crypto mining for the country’s heat, drought and energy shortage. Hossein Haghverdi a parliament member spoke out about the blackout and urged the government for an investigation.
A spokesperson for one the country’s electricity companies stated that the company had to disconnect certain government bodies from its power grid amid ongoing blackouts in Iran. According to the spokesperson, four government bodies were “overusing” electricity and were finally cut off on May 22nd.
To help reduce energy consumption, several registered mining farms have also voluntarily stopped operations.
Iran’s announcement was made after China issued a nationwide crypto ban that would affect several mining companies in China. BTC.TOP, one of China’s mining operators, stated that it would move its business from China to North America.