The government of Iran has decided to let crypto miners return to work after a ban that lasted three months and was imposed by former President Hassan Rouhani in late May.
The ban came as a result of problems that the power grid of the country was facing. The country had to deal with widespread power outages due to the increased temperatures which reached even 49 degrees Celsius (120 Fahrenheit).
This, coupled with a shortage of water, made the president ban crypto mining during summer so that air conditioners could still run in the homes of Iranians.
The temperatures are now decreasing. Furthermore, on August 3rd, Ebrahim Raisi became the new president of Iran.
This means that crypto miners are back to work. Between 4.5 – 7% of the entire crypto mining in the world is done in Iran as a result of its very cheap electricity.