Bitcoin mining slows down in Iran and Kazakhstan

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Cold weather in some of the strategic points of Bitcoin (BTC) and crypto mining is bringing bad news for the industry: Power outages have been seen in Kazakhstan and Iran, with government intervention in the second country.

Chimbulak (Almaty), Kazakhstan. Source: Maxim Petrichuk

According to the serviceInterfax in Kazakhstan, the National Association of Blockchain and Data Centers Industry in Kazakhstan (NABDC) reported that “several dozen” of its members have fallen victim to power disruptions – rendering a number of data centers “inactive for more than a month.”

The NABDC claimed that the country’s legal miners have lost an estimated 300 million kWh of electricity since temperatures began to drop, resulting in a total “direct loss” of more than $ 9.7 million in revenue for the Kazakhstan’s energy industry.

The president of the organization, Alan dordzhiev, reportedly said that despite a recent government decision to “urgently” advance mining legislation, miners who had brought themselves into compliance continue to suffer from power cuts.

In October, the Minister of Energy and the President of the country asserted that “honest” miners would be allowed to “continue their activities without further restrictions”.

Meanwhile, in Iran, the government has intervened as temperatures in regions like Bostan Abad drop to -10 degrees Celsius, spiking energy use – and leading energy providers to order miners accredited cryptos to temporarily cease trading.

According to the IRIB press agency, Mostafa Rajabi Mashhadi, deputy director general ofIran Grid Management Company, told a radio station that Iran decided to shut down cryptocurrency operators to reduce fuel consumption at power plants amid falling temperatures, and began placing restrictions on the sector in the month last. He said the relevant ministry had unplugged “authorized” crypto hubs and cut off street lights in parts of the country as the network began to show signs of strain.

Rajabi Mashhadi added that the forecast for colder weather over the next week means citizens should use electricity with caution in the coming months.

Share of Bitcoin’s global hash rate (monthly average)

* – To our knowledge, there is hardly any evidence of the existence of large mining centers in Germany or Ireland which would justify these figures. Their share is probably significantly inflated due to redirected IP addresses through the use of VPN or proxy services. Source: Cambridge Bitcoin Electricity Consumption Index

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