Iran bans crypto mining for the summer ahead of peak electricity demand

Bitcoin mining uses vast amounts of electricity
Olga Maltseva/Getty Images
Iran has banned cryptocurrency mining over the summer ahead of an anticipated surge in electricity demand, Bloomberg reported.
The ban is effective immediately until September 22.
Approximately 4.5% of all bitcoin mining occurs in Iran, according to Elliptic.
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Iran has banned cryptocurrency mining over the summer ahead of an anticipated surge in ele