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It is being reported by Bitcoin Exchange Guide that even though in many parts of the world it is no longer profitable to mine Bitcoin given the current market value, in Iran this is not the case due to the country's highly subsidized energy.
In the article we learn the story of Ali Hosseini and Pedram Ghesemi, who originally started mining Bitcoin when it was still over $6,000. However, due to the nation's highly subsidized energy it is still possible to turn a profit so long as the price of Bitcoin remains over $2,000. This means Ali and Pedram are still doing fine.
This comes at a time when many Iranians are using Bitcoin to bypass government sanctions, and even the government is looking to get in on the action. The fact that the crypto is still worth mining is just added incentive.
Bitcoin is legal to mine and legal to accept as currency in Iran, however it is illegal to trade it, though this does not serve as a huge barrier to most users. Using international exchanges or finding retailers who accept it are just some options for Iranians.
Will Iran continue to prosper with Bitcoin given its continued value and the rise of international sanctions? Stick with Chepicap to find out!