{"id":43165,"date":"2021-05-25T17:40:36","date_gmt":"2021-05-25T14:40:36","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=43165"},"modified":"2025-08-31T02:26:36","modified_gmt":"2025-08-30T23:26:36","slug":"study-iran-bypasses-sanctions-through-bitcoin-mining","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/study-iran-bypasses-sanctions-through-bitcoin-mining\/","title":{"rendered":"Study: Iran Bypasses Sanctions Through Bitcoin Mining"},"content":{"rendered":"<p>Iran accounts for 4.5% of all Bitcoin mining. The cryptocurrency helps the country circumvent sanctions and buy imported goods, according to analysts at <a href=\\\"https:\/\/www.elliptic.co\/blog\/how-iran-uses-bitcoin-mining-to-evade-sanctions\\\" target=\\\"_blank\\\" rel=\\\"noreferrer noopener\\\">Elliptic<\/a>.<\/p>\n<p>\\n\\n\\n\\n<\/p>\n<p>The estimate of Iran&#8217;s share globally is based on data from the Cambridge Centre for Alternative Finance and statements by the state-controlled Iranian energy company that miners consume up to 600 MW of electricity.<\/p>\n<p>\\n\\n\\n\\n<\/p>\n<p>Elliptic estimates that this level of mining yields roughly $1 billion annually, and producing that amount of electricity would require about 10 million barrels of oil. That represents around 4% of Iran&#8217;s total oil exports in 2020.<\/p>\n<p>\\n\\n\\n\\n<\/p>\n<p>Analysts emphasise that many of those who conduct Bitcoin transactions and pay fees to Iranian miners are based in the United States\u2014the country that initiated sanctions against Iran.<\/p>\n<p>\\n\\n\\n\\n<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>\u201cIf 4.5% of Bitcoin mining is based in Iran, there is a 4.5% probability that any Bitcoin transaction will include a fee paid to an Iranian miner,\u201d Elliptic noted.<\/p>\n<\/blockquote>\n<p>\\n\\n\\n\\n<\/p>\n<p>In 2019, Iran recognised cryptocurrency mining as an industrial activity and began licensing miners.<\/p>\n<p>\\n\\n\\n\\n<\/p>\n<p>In 2020 <a href=\"https:\/\/u1f987.com\/en\/news\/iran-allows-power-plants-to-work-with-cryptocurrency-miners\">Iranian power plants were allowed to operate with mining centers<\/a> for cryptocurrencies, provided they held a license.<\/p>\n<p>\\n\\n\\n\\n<\/p>\n<p>According to media reports, this year the Central Bank of Iran allowed banks and other financial institutions <a href=\"https:\/\/u1f987.com\/en\/news\/iran-allows-financial-institutions-to-pay-for-imports-with-bitcoin\">to use cryptocurrency to pay for imports<\/a>.<\/p>\n<p>\\n\\n\\n\\n<\/p>\n<p>Read ForkLog\u2019s Bitcoin news in our <a href=\\\"\/\/telegram.me\/forklog\\\" target=\\\"\u201c_blank\u201d\\\" rel=\\\"\u201cnofollow\u201d noopener\\\">Telegram<\/a> \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Iran accounts for 4.5% of all Bitcoin mining. The cryptocurrency helps the country circumvent sanctions and buy imported goods, according to Elliptic analysts.<\/p>\n","protected":false},"author":1,"featured_media":43166,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1137,840,686],"class_list":["post-43165","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cryptocurrency-mining","tag-iran","tag-sanctions"],"aioseo_notices":[],"amp_enabled":true,"views":"20","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/43165","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=43165"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/43165\/revisions"}],"predecessor-version":[{"id":43167,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/43165\/revisions\/43167"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/43166"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=43165"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=43165"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=43165"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}