Iran bans crypto mining after summer power cuts strike early

Iran is facing another widespread wave of power outages, and the government is blaming Bitcoin miners again.

Tehran, Iran – Iran has banned all cryptocurrency mining for the next four months as widespread power outages stir public dissatisfaction across the country. President Hassan Rouhani said on Wednesday that all crypto mining operations in Iran – including legal ones – must shut down until the end of the sixth Iranian calendar year on September 22. “Now everybody has a few miners laying around and are producing Bitcoins,” he told a televised cabinet meeting with a chuckle.