Iran Faces Power Blackouts Amid Bitcoin Mining

Iran is experiencing widespread power blackouts that have severely affected daily life and businesses, particularly in the capital, Tehran. These outages, attributed in part to unauthorized cryptocurrency mining, have been exacerbated by international sanctions related to the country's nuclear program and an overstretched power grid. The surge in bitcoin's value, recently surpassing $100,000, has intensified the strain on the energy supply, with reports indicating that illegal mining constitutes about 85% of operations. Iranian officials, including Power Company CEO Mostafa Rajabi, have highlighted the exploitation of subsidized electricity for mining purposes, compounding the energy crisis. The ongoing blackouts and energy mismanagement reflect broader economic challenges facing Iran, as the government struggles to balance energy demands with financial constraints. International pressures and internal mismanagement continue to complicate Iran's energy landscape, leading to urgent calls for reform.