According to the forecast of blockchain analytics firm Elliptic, Iran’s Bitcoin mining revenue could reach $ 1 billion.
Iran’s share in the global hash rate has exceeded 5%.
Crypto mining farms consume an average of 600 megawatts of electricity in Iran.
Iran is moving between Bitcoin profits from rein in its mining operations and dodging US sanctions. The Central Bank of Iran allows the use of cryptocurrencies for import transactions.
The country also continues to combat power outages caused by unauthorized mining operations.
Local miners have gone as far as establishing mining operations in mosques to take advantage of free electricity. Iran is forming special teams to catch these people.