Is Central Asia the New Safe Haven for Crypto Mining Amid Iran-US Crisis?
Cointelegraph
Published Jan 18, 2020 02:06PM ET
Updated Jan 18, 2020 03:42PM ET
Is Central Asia the New Safe Haven for Crypto Mining Amid Iran-US Crisis?
Recently, the cryptocurrency mining community has been shaken with rumors of Chinese miners leaving Iran — where crypto mining is authorized as an industrial activity — for Central Asia. The move has ostensibly been taken in an attempt to find a new safe haven amid the tensions between the United States and Iran, as well as rising oil and energy prices.
Iran’s attraction for crypto mining operations lies in subsidized electricity rates — as of July, 0.7 cent per kilowatt-hour (kWh), — which had purportedly even prompted miners from mining centers such as China to relocate their operations to the country.
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Written By: Cointelegraph
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