Iranians are Mining Bitcoin for $1,325 with 50x Returns Despite Electricity Shortages

Iranians have been mining Bitcoin at a very low cost of $1,325 per BTC, compared to at least $75,000 per BTC in the USA.

The result is that miners in the country are reaping 50x profits despite a massive crash in Bitcoin.

The country also relies massively on Bitcoin to circumvent trade sanctions on its economy.

Iranian Bitcoin miners have been facing huge electricity shortages due to recent military clashes and legacy grid issues.

Iran accounts for around 5% of global Bitcoin hashing power.

Eadvizer, Vira Miner LLC, Ramzarznegaran, Persisbazar, etc, are a few top Bitcoin mining companies in Iran.

Source: https://bfmtimes.com/iranians-are-mining-bitcoin-for-1325/