Iran

Iran Shuts Down Over 8,000 Illegal Crypto Mining Farms in 3 Years

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Authorities in Iran have closed down more than 8,000 underground facilities for cryptocurrency mining in the past three years, local media reported. Despite the government’s crackdown, illegal crypto mining continues to account for a serious amount of energy consumption, official figures…

President Raisi Calls on Central Bank of Iran to Ditch US Dollar in Trade, Shift to National Currencies

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Iranian president Ebrahim Raisi has called on the Central Bank of Iran to lay the groundwork necessary to ditch the U.S. dollar for bilateral trade settlements and to make the switch to use the Iranian real whenever possible. The Central Bank…

Syria Urges BRICS to Lead in Ditching Dollar, Talks Yuan Adoption With China

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BRICS nations can lead efforts to abandon the U.S. dollar in international settlements, according to President Bashar Assad of Syria. At a meeting with China’s top diplomat for the region, the leader of the war-torn Middle Eastern country called for using…

Saudi Arabia Strengthens Bond With China by Joining SCO Bloc as Dialogue Partner

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China’s relationship with Saudi Arabia is growing as the country’s Cabinet has agreed to join the Shanghai Cooperation Organization (SCO). The diplomatic move made by the kingdom began with a memorandum of understanding in September, and at the end of March,…

Iran Returns Seized Crypto Mining Equipment to Miners

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A government body responsible for state property in Iran has released some of the hardware seized from illegal crypto mining farms. Its top executive explained the agency was obliged to do that by courts in the Islamic Republic, where unlicensed miners…

Data Shows There’s No Profits Left for Bitcoin Miners That Can’t Obtain Cheap Electricity, Run Efficient Mining Rigs

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During the last few weeks bitcoin’s cost of production has been higher than the leading crypto asset’s spot market value and in turn, this has put massive pressure on bitcoin miners. On Nov. 30, 2022, statistics show if miners paying for…

Natural Gas Price Hike Hits Crypto Miners in Iran

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Companies using natural gas as a power source to mint digital currency in Iran will have to deal with a sharp increase in the price of the fuel. The new rates set by the state-run supplier are almost double the previous…

Nicolas Maduro Tempts West With an Abundance of Oil and Gas, Venezuelan President Wants Sanctions Lifted

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Amid the economic rumblings across the world and the energy crisis in Europe, Venezuelan president Nicolas Maduro has said his country is ready to step up and help with oil. Despite the fact that Venezuela has the largest supply of crude…

‘No Middle Class Left,’ ‘Millions Will Be Wiped Out’ — Two Market Crash Predictions, Gas Cartels, and Whales Moving Mt Gox Coins: Bitcoin.com News Week in Review

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In this week’s Bitcoin.com News Week in Review, one market strategist issues a dire warning about the U.S. economy and a large market crash that could cause a “50 to 60 percent haircut” in stocks. Further, the Russian government is reportedly…

Iran Amends Regulations to Ease Crypto Miners’ Access to Renewable Energy

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Authorities in Iran have revised some rules for the crypto mining industry in order to facilitate its access to green power. Licensed miners will now be able to purchase electricity produced from renewable sources from across the country at lower rates….