Iranian BTC Miners Set Up In Local Mosques To Save On Electricity Bills

Iranian BTC miners are moving their bitcoin mining shops to local mosques in order to save up on the electricity bills but the government is not buying it. How are the Iranians fighting the severe costs, we read in the altcoin news below.

Users on social media this week reported that around a hundred miners are now participating in the bitcoin network from the closest mosque they can find. In Iran, most of the mosques get free electricity from the government which makes it a perfect place to set up an energy-intensive mining process. A photo on Twitter translated to English by the Oxford University researcher Mahsa Alimardani appears to be the process of setting up a bitcoin mining center in a mosque. She pointed out:

‘’There’s around 100 here, producing around $260,000 USD a year. This money goes a long way in Iran’s choked sanctioned economy’’

The citizens of Iran have divided opinions about this case. $260,000 is not a small amount for the citizens of the country which faces the harshest economic restrictions and sanctions which are increasing constantly. Not everyone agrees that the mosque phenomenon is justified. The latest political developments with the United States have taken its toll on the Iranian rial and this is why the Iranian BTC miners are trying new ways to make some extra money. Back in 2015, the US administration signed a new treaty which allowed Iran to enter the world economy and at that time the exchange rate was 32,000.

Teheran as the capital of Iran was extremely bearish about the crypto industry despite the sanctions. In April 2018, the Central Bank of Iran issued a formal note to banks warning them not to serve crypto businesses since the government is planning to issue a cryptocurrency of its own.
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In the meantime, the state took a step forward formally recognizing Bitcoin mining as an industry. This move backfired since the authorities seized one thousand mining unites after they caused a 7 percent surge. The Power official in Arash Navab stated:

 “Two of these bitcoin farms have been identified, with a consumption of one megawatt.’’

According to the reports in the best cryptocurrency news sites, the Ministry of Energy plans to cut off power to the miners after they identify them. The mining scene in Iran looks like a ‘’sanctions-dodging skyscraper’’ according to the ministry official Mostafa Rajabi Mashhadi.