According to some analysts, tensions between the United States and Iran may have helped increase Bitcoin prices, as the price increase of the main cryptocurrency in the market began on January 3, just when the Americans killed an Iranian general in Iraq. However, if on the one hand the fact may have raised the price of Bitcoin on the other, it turned out to be a "warning" for the miners who were in the country.
As the 8BTC reported, the Middle East country was attracting Bitcoin miners due to the price of its electricity that could reach $ 0.006 per kilowatt hour (in comparison, in Brazil, the price could reach $ 0.20 per kilowatt hour) . ), but the possibility of a war between countries has led the miners to realize that they may be investing their resources in a volcano near the explosion.
In fact, Chinese miners have already faced the dilemma of leaving China several months ago due to the legalization of cryptocurrency mining in August 2019, which raised the price of electricity to $ 0.05 to $ 0.07 kW / h for mining activity, forcing some miners to operate underground, but eventually they were severely punished by the Iranian authorities.
The government also encourages people to report illegal mining operations, saying that anyone who reports to people using subsidized electricity for cryptocurrency mining will be rewarded with up to 20% of the funds recovered from the mining company.
“In December, local police confiscated 12 mining machines and only $ 21 in Bitcoin at a dairy farm. Five Iranian miners were also arrested in Tehran. There are many less Iranians who come to China today to buy mining machines, ”said Wang Jianyi, a Chinese miner who provides mining accommodation services in Iran.
At the end of November, rising oil prices caused riots in some parts of Iran. In an attempt to stop the riots, the Iranian government temporarily restricted access to mobile Internet in several provinces, forcing many mining farms to close.
Internet access in the free trade zone of Iran, where many Chinese miners operate, has not been affected, but concerns remain.
"The situation is not good, we are all looking for a way out," said miner Sun Bing.
In this context, according to Bing, Iran is no longer the first destination of Chinese miners for Bitcoin mining abroad, its neighboring countries Kazakhstan and Uzbekistan are equally rich in electricity, while the political environment is more stable there.