Iran

Despite a looming crackdown from regulators, cheap energy in Iran has made it ideal for bitcoin mining.

The government in Iran is reportedly moving to authorize bitcoin mining but seems divided on the topic.

Chinese bitcoin miners have made requests through official channels to Iranian government, asking if they can leverage the country’s cheap power.

Cryptocurrency miners in Iran have seemingly moved their operations to religious centers, which receive free energy in the country.

The Iranian government has reportedly seized over 1,000 bitcoin miners as it works to curb the industry’s use of subsidized energy.

Iran’s deputy energy minister is pushing for cryptocurrency miners to pay power bills at rates equivalent to those charged for electricity exports.

Chinese companies have jumped on the bandwagon of bitcoin mining, either under the guise of cloud computing or providing mining hosting services, in an effort to bypass regulations.

The peer-to-peer bitcoin trading network LocalBitcoins has shut down all trading operations for Iranian users, likely in response to sanctions against the country's government.

On April 24, 2019, the first bitcoin ATM in the Islamic Republic of Iran was revealed at the 12th International Exhibition of Exchange, Bank and Insurance in Tehran.

Many Chinese cryptominers have migrated to places with cheap electricity and favorable policies as a result of the escalated government crackdown on cryptocurrency and its production process. Since late 2018, the oil-rich Middle East country of Iran has become a hotspot for Chinese miners.