Iran’s capital and outlying provinces have faced rolling power blackouts for weeks in October and November, with electricity cuts disrupting people’s lives and businesses.

Summary

Iran is experiencing widespread power outages, with cryptocurrency mining suspected as a contributing factor.

Bitcoin mining, which requires massive electricity, has surged in Iran due to subsidized energy and rising bitcoin prices, recently hitting $100,000.

Officials blame unauthorized miners using free or subsidized electricity, while public frustration grows over blackouts.

Iran’s energy crisis is compounded by sanctions, aging infrastructure, low fuel reserves, and climate change.

Authorities struggle to balance energy needs amid allegations of mining by paramilitary groups and fears of economic dependence on volatile cryptocurrencies.

  • lolrightythen@lemmy.worldEnglish
    31·
    9 days ago

    I don’t have fomo about crypto or speculative stock trading. I’m sure it’ll cause me problems in the end, but I’ve opted not to procreate, so the end doesn’t have to be prolonged.

    What a mess. Hopefully, the entitled generationally wealthy folk are the last ones left standing without anyone else to blame. At which point they can engage in fisticuffs like the barbarians once did.