UTC-05:00,Tuesday , January 28th 2020

Chinese Miners Leaving Iran, Eye Uzbekistan

10:02 Thursday , January 16th 2020
The recent US-Iran tensions have increased the concerns of Chinese miners who operate in the country. Local crypto media reports "some Chinese miners are leaving Iran, while locals are buying these leaving Chinese miners' second-hand machines to get started." That's because while electricity is very cheap in Iran at $0.006 per kilowatt-hour, they've increased it for miners to $0.05-$0.07/kWh.
Small miners are taking a wait and see approach, but veteran miners have apparently been tempted by an offer from Uzbekistan. The double landlocked country close to Iran and China is planning to launch a National Mining Pool which will offer miners that use it cheaper electricity according to reports. Uzbekistan will offer $0.035/kWh, considerably lower than even cheap energy in China which is usually at around $0.05/kWh.
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