Iran Bitcoin miners go offline amid electricity demand surge

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Al-Araby

Iranian Bitcoin miners have been told to halt their activities as the price of cryptocurrencies plunges and electricity demand in Iran surges, according to reports. Around 118 authorised cryptocurrency mining centres in Iran will go offline from Wednesday, ahead of a peak in domestic energy demand, according to the head of the Iran Grid Management Company Mostafa Rajabi Mashhadi. The price of Bitcoin has plunged in recent years, from $67,707 in November 2021 to the current rate of $20,416, according to financial market data provider Refinitiv, amid a mass sell-off of cryptocurrencies. It is no…

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