Some Chinese Bitcoin miners moved their operations to Iran due to the extremely affordable electricity cost of only $ 0.006 per kilowatt-hour.
The recent tensions between the US and Iran, internet outages, and the high rate of electricity used by cryptocurrency miners last year have led the Chinese to search for more attractive places.
According to the news in 8BTC, Sun Bing, a Chinese Bitcoin miner, said, “We are all looking for a way out. The situation is not good. ”
Bitcoin miners are now transitioning from countries close to Iran to Kazakhstan and Uzbekistan. Miners see these countries more politically stable while having equal terms in terms of electricity.
During a press conference on Monday, it was announced that Uzbekistan created a national mining pool and electricity will be supplied to the miners who join the pool at a low rate. The current electricity price for businesses in the Central Asian country is $ 0.035 per kilowatt hour.
While some Chinese miners leave Iran, local people buy second hand devices left by the Chinese.