Iran legalized crypto mining in 2019 and started taxing the sector, thereby helping to offset the country's huge electricity subsidy. A year later, the country asked crypto miners to sell their Bitcoin rewards to the Central Bank of Iran. Iran has suspended BTC mining for four months. Due to high temperatures and energy shortages, the country's electricity grid was on fire, and President Hassan Rouhani issued a temporary ban.
Although Iran ranks in the top 5 for cheap electricity due to its large oil and natural gas reserves, this year's power outages only show that the country's national grid is not suitable for high electricity demand.