Everyone is doing the math: currently, the average cost to mine one Bitcoin globally is $50,000, and if you're not careful, you could even lose money. But in Iran, the cost is only $1,300!!!
This is hardly mining; it's more like "printing money."
The reason is surprisingly down-to-earth: Iran has abundant natural gas at home, more than they can use, and they can't sell it all, so they simply burn the gas to generate electricity and mine BTC. Energy costs are almost zero, and electricity is basically free. In 2019, they legalized this practice, with miners using subsidized electricity, and the
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