Many Chinese bitcoin miners migrated to Iran in 2018 for its cheap electricity amid China’s crackdown on crypto mining. However, they’re finding the harsh environment in the authoritarian regime unwelcoming. Feng Liu operates a bitcoin mine holding over 20,000 units of Antminer T9. He told Chinese crypto website 8BTC News that many Chinese crypto miners flocked to Iran last year because electricity is cheap (as low as $0.006 per kilowatt-hour) in the oil-rich nation. “If you want to invest in power plants in Iran, the government there will supply free natural gas for the first five years, which further lowers
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