Iran says cryptomining a major cause for rising electricity demand – Press TV

Iran has identified cryptomining as a significant factor contributing to the country’s increasing demand for electricity. According to reports from Press TV, the energy-intensive process of cryptomining is putting strain on Iran’s power grid. Cryptocurrency mining involves solving complex mathematical equations to verify transactions on the blockchain, which requires a substantial amount of electricity. As a result, Iran is facing challenges in meeting the rising electricity demand caused by cryptomining activities. The government is now working to address this issue and find solutions to manage the energy consumption associated with cryptomining.