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Have you ever wondered where some of the world’s Bitcoin truly comes from? The answer might surprise you. Recent insights from Coin Bureau founder Nic Puckrin on X suggest that Bitcoin mining Iran could be a far more significant player on the global stage than many realize. Imagine a nation leveraging its abundant natural resources to power a digital revolution, all while navigating complex geopolitical currents. This revelation shines a spotlight on the intricate relationship between energy, geopolitics, and the decentralized world of cryptocurrency. The Surprising Scale of Bitcoin Mining Iran According to Nic Puckrin’s analysis, Iran may account for a substantial 3.1% of global Bitcoin mining activity. While this percentage might seem modest at first glance, it places Iran among the top contenders in the highly competitive world of cryptocurrency production. This isn’t just about individual miners; it’s a strategic national endeavor. The country reportedly capitalizes on its vast reserves of oil and gas, utilizing these cheap energy sources to fuel domestic mining operations. In some cases, this energy is even sold at highly subsidized rates to foreign operators, with Chinese entities often cited as key beneficiaries. The scale of these operations hints at a well-organized infrastructure, far beyond what casual observers might expect. It raises crucial questions about energy allocation, economic strategy, and the environmental footprint of such large-scale endeavors. Unpacking Iran Cryptocurrency Mining’s Allure What makes Iran such an attractive destination for cryptocurrency miners? The answer primarily lies in economics. The cost of electricity in Iran is remarkably low, ranging from an astonishing $0.01 to $0.05 per kilowatt-hour (kWh). To put that into perspective, the global average electricity cost for industrial use is significantly higher. This ultra-cheap energy translates directly into incredibly low operational costs for miners. Consider this: Low Production Costs: At these rates, mining a…

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Filed under: News - @ June 28, 2025 1:27 am