Iran's energy ministry has claimed that a surge in bitcoin mining is threatening the stability of the country's electricity grid. Ministry spokesperson Mostafa Rajabi Mashhadi said consumption had risen 7% in an entire year, jeopardising the sustainability of the system. Using bitcoin has been cited as a potential way of circumventing economic sanctions placed on Iran. Miners are reportedly targeting locations that have subsidised electricity, such as factories, government offices and mosques.
Iran's energy ministry has claimed that a surge in bitcoin mining is threatening the stability of the country's electricity grid. Ministry spokesperson Mostafa Rajabi Mashhadi said consumption had risen 7% in the past month, jeopardising the sustainability of the system. Using bitcoin has been cited as a potential way of circumventing economic sanctions placed on Iran. Miners are reportedly targeting locations that have subsidised electricity, such as factories, government offices and mosques.