Iran’s capital and outlying provinces have faced rolling power blackouts for weeks in October and November, with electricity cuts disrupting people’s lives and businesses.

Summary

Iran is experiencing widespread power outages, with cryptocurrency mining suspected as a contributing factor.

Bitcoin mining, which requires massive electricity, has surged in Iran due to subsidized energy and rising bitcoin prices, recently hitting $100,000.

Officials blame unauthorized miners using free or subsidized electricity, while public frustration grows over blackouts.

Iran’s energy crisis is compounded by sanctions, aging infrastructure, low fuel reserves, and climate change.

Authorities struggle to balance energy needs amid allegations of mining by paramilitary groups and fears of economic dependence on volatile cryptocurrencies.

  • x00z@lemmy.worldEnglish
    101·
    5 days ago

    Every time I raise the issue with Proof-of-Work coins being damaging to the environment I get a flood of hate. Proof-of-Stake coins might have other problems, but at least they consume 100s of times less power. I’m sure we could even come up with something better if the crypto bros stopped circlejerking.

    • DarthFrodo@lemmy.worldEnglish
      9·
      5 days ago

      Crypto bros depend on more people speculating with their currency of choice to increase the market value. If they’re pissed, that’s a good sign.