Iran Devises Way to Convert Oil to Bitcoin
GovInfoSecurity Compliance DougOlenick) • May 25, 2021 Get Permission Iran is using its abundance of oil to generate electricity that powers a massive bitcoin cryptomining operation that enables the country to turn its greatest natural resource into money, offsetting some of its income lost as a result of U.S. and EU economic sanctions that ban imports from the country, according to cryptocurrency analysis firm Elliptic. Iran is home to about 4.5% of the world's bitcoin mining operations, and some of them are ...
Source: govinfosecurity.com