Iran Bans Bitcoin Mining, Echoing China, After Blackouts

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Iran banned the mining of cryptocurrencies like Bitcoin after a series of blackouts across major cities, in the latest sign of growing unease over the digital asset’s energy usage.

The ban is effective immediately and will last until Sept. 22, President Hassan Rouhani said on state TV on Wednesday.

It follows a regional ban within top Bitcoin-mining country China, and electric car-maker Tesla Inc.’s decision to stop selling cars using the token. Both cited environmental concerns, triggering a drop in Bitcoin’s value from April’s record high.



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