Bitcoin has promised many things for Iran, not least a route to bypass U.S. sanctions, but now it threatens to be a source of problems rather than solutions.
According to local media reports, the Iranian government is blaming bitcoin miners for a potentially unsustainable surge in electricity use.
Mostafa Rajabi Mashhadi, a spokesman for the Energy Ministry, has been quoted by Iranian news agencies as saying that electricity consumption increased by 7% in the past month alone and he was clear where the blame lay.
“A bulk of that unusual increase is because of the activity of bitcoin miners,” he said, adding that their activities are “making the grid unstable and causing problem for other users.”
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