Mining Operations
Iran bans cryptocurrency mining for four months
Iran is temporarily banning cryptocurrency mining after some of the country’s major cities experienced repeated blackouts. President Hassan Rouhani said that the ban would last until September 22nd. The country has experienced summer blackouts in years past, and while the current round of outages is mostly being blamed on a drought that’s affecting the country’s ability to generate hydroelectric power, it seems that the Iranian government is eager to cut down on any aggravating factors. Power-hungry cryptocurrency mining operations, for instance. According to the BBC, Iran operates a program where Bitcoin miners must register with with the government, pay extra for electricity, and sell their coins to the central bank. President Rouhani stated that the legal mining operations in the countr...
Kano council boss laments influx of illegal miners from Zamfara
Bashir Abdullahi Kutama, Chairman of Gwarzo Local Government Area in Kano State, has raised concerns over the influx of Zamfara-based miners into his locality for illegal mining operations. The Chairman raised the alarm during a town hall meeting on Thursday with representatives of security agencies, village heads, transport unions and sections of the public. The meeting was intended to streamline modalities to improve and strengthen security of lives and property in his area. Kutama told his audience that he had recently introduced a migrants registration system in all parts of the local government, directing traditional leaders to form security watch committees in their respective communities. He added that the local government management was taking adequate precautionary security measur...
Iran’s smog, blackouts made worse by power-sapping crypto mining
Outages have been compounded by cryptocurrency mining, which uses banks of high-powered computers. Cities across Iran have been cloaked in thick layers of toxic smog and darkened by blackouts, as the alleged use of low-quality fuel and power-sucking cryptocurrency mining deepen the country’s hardships. Tehran’s Hamshahri newspaper, the country’s most-read daily, ran the headline, “20 Days Living in Smoke,” on Wednesday over a photo of the capital covered in smog. Power plants have been forced to switch to burning low-grade fuel oils to generate electricity because high levels of domestic consumption have led to natural-gas shortages, the semi-official Iranian Students’ News Agency reported. Oil Minister Bijan Namdar Zanganeh denied earlier this week that any of Iran’s power stations are us...
