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Thursday, June 27, 2019

Iranians Defy Warning and Share Pictures of Bitcoin Mining in Mosque

On Tuesday, the Iranian energy grid corporation Tavanir warned illegal bitcoin mining operations that they would be cut off from their supply. Following the announcement, pictures of a mining facility set up in a mosque went viral on social media.

                                                      Mining in a Mosque

On June 25, Tavanir's representative Mostafa Rajabi Mashhad disclosed to the press that unlawful bitcoin mining offices have expanded the most recent two months of intensity utilization by over 7%. During the primary seven day stretch of June, it was accounted for that a few excavators were utilizing spots like government structures and mosques to control their mining rigs. In August 2018, Iran's Senate Standing Committee on Power told mosque pioneers that they would keep accepting free power. In any case, the arrangement accompanied a stipulation as mosque pioneers were required to report a fatwa against the utilization of stolen power. The following month, the Secretary of Iran's Supreme Council of Cyberspace, Abolhassan Firouzabadi, told the press that mining was formally perceived as an industry in Iran.

The day after Mostafa Rajabi Mashhad emphasized that illegal bitcoin mining operations would be shut down, Twitter user Rmahdavii shared a photo of a bitcoin mine operating inside a mosque. The picture he shared shows a bunch of miners on racks within the confines of the place of worship. Rmahdavii’s tweet, which has over 4,900 likes and 638 retweets, says “You are a Bitcoin mosque — Qali-Allah.” Mahsa Alimardani explains that “mosques receive free energy in Iran and Iranians have set up Bitcoin miners in them — There’s around 100 here, producing around $260,000 USD a year.” Alimardani added:
This money goes a long way in Iran’s choked sanctioned economy.

Demand for Permissionless Money Grows Stronger After Fresh Sanctions Are Levied Against Iran

In Rmahdavii’s tweet thread, there are also two more photos shared showing the mine in the worship area. The post was not only shared massively on Twitter, but made its way to forums like r/cryptocurrency and r/bitcoin. Over the last six months, there have been two distinct reports of bitcoin miners from Spain, Ukraine, Armenia, France, and China migrating to Iran for cheap electricity. Many places worldwide will charge between $0.10-0.30 per kilowatt-hour, but in Iran prices are reportedly as low as $0.006 per KWh. Cryptocurrencies, particularly BTC, BCH, and ETH, are sold on the Exirexchange and Iranians used to buy BTC on until the platform stopped servicing Iran. There have been a few BTC premiums on the Exir platform in Iran but nothing too out of the ordinary. Then, on June 22, a crypto asset investment fund partner at Primitive Ventures, Dovey Wan, noticed a 30% over-the-counter (OTC) BTC premium in Iran.
BCHBTC, and ETH are sold on Exir.

Iran dependably had an irksome association with the U.S. what's more, there have been exchanging sanctions against the oil-rich country for a considerable length of time. Be that as it may, after Iranian powers brought down a U.S. ramble on June 20, the Trump Administration marked a request on June 24 demanding significantly more endorses against Iran and its pioneers. The next day, after new endorses were passed on, the cost of gold and digital money markets bounced fundamentally. With market costs rising quickly and a lot of interest for cryptographic forms of money in Iran, mining coins with free power, or even at $0.006 per KWh, must allure. All things considered, the message from Tavanir's Mostafa Rajabi Mashhad cautioned that diggers doing as such will be "recognized" and "remove." The Twitter post shared by Rmahdavii appeared to be an immediate explanation of difference against the Tavanir order to close down these kinds of activities.

Also Read :Malaysia Begins Approving Crypto Exchange Registrations

What do you think about the situation in Iran where people are using mosques for free electricity to mine bitcoins? Let us know what you think about this subject in the comments section below.

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