Iranian Bitcoin Mining Facility rebooted by Chinese Investors

Iranian Bitcoin Mining Facility rebooted by Chinese Investors

Iranian mining facility is ready to start its operations after four months of closure.

Due to massive financing put up by Chinese backers, was the reason Iranian mining facility decided to start their mining farm according to Iranwire.

In the early 2021, the Bitcoin mining farm which is located in Rafsanjan, a city in the Kerman Province of Southeast Iran, was at the centre of controversy. In the middle of electricity blackout, the authorities in the province ordered for the closure of the mining hub.

Indeed, the Rafsanjan Bitcoin mining center reportedly consumes 175 megawatt-hour of electricity — almost a third of the total power allocated to crypto miners in Iran. Established back in 2019, the BTC mining farm is reportedly the largest data center in the Middle East.

Addressing the city council on Wednesday, Rafsanjan representative Hossein Jalali argued that the huge investments in the Bitcoin mining center “should not be lost.”

However, residents are reportedly concerned that the reopening is proceeding without any efforts to mitigate the electricity outage problems.

The Rafsanjan facility is one of many Chinese-backed Bitcoin mining facilities in Iran, especially in the Southeast special economic zone.

Chinese money flowing into Iranian Bitcoin mining operations appears somewhat along the margins of the economic relationship between both nations under the aegis of the “25-year contract.”

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