A state-controlled news agency IRNA reports that Iranian law enforcement authorities confiscated over 7,000 cryptocurrency mining computers.
Iran banned Bitcoin and other crypto mining about a month ago over concerns about the industry’s energy consumption. Note that according to the Cambridge University’s Center for Alternative Finance, Iran’s blueprint for mining the world’s largest cryptocurrency uses more energy than Finland.
Along with Iran, China is also going to implement policies to reduce the presence of the cryptocurrency mining industry. So far, the Chinese provinces of Qinghai, Sichuan, and Inner Mongolia have eliminated crypto mining from their landscape.
Some analysts on Decrypt have pointed out that it is a way of cutting down on carbon emissions. While others believe that this crackdown has nothing to do with cutting back on atmospheric pollution. They are of the view that the crackdown is only impartially one-sided since the government wants to introduce some nifty regulations for cryptocurrencies.