Iran Bans Bitcoin Mining – Bitcoin Magazine: Bitcoin News, Articles, Charts & Guides

The Iranian government has announced a ban on bitcoin mining in the country until late September, according to Iran front page.

The move, announced by the country’s president, Hassan Rouhani, was necessary due to the huge burden placed on the national electricity grid by the country’s bitcoin mining activities, according to the report.

Per the report, Rouhani said, “The licensed mining of cryptocurrency does not consume much electricity and only needs about 300 megawatts. However, unauthorized miners consume a lot of electricity; they consume about 2,000 megawatts.”

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