Why is Iran banning bitcoin mining?

Iran has announced a four-month ban on the energy-consuming mining of cryptocurrencies such as Bitcoin after cities suffered unplanned blackouts. President Hassan Rouhani told a cabinet meeting the main cause of the blackouts was a drought that had affected hydro-electric power generation.

Is New York's ban on cryptocurrency mining a problem?

New York’s two-year ban on new proof-of-work cryptocurrency mining is likely to have only a small direct effect on the power-hungry industry–which is shrinking anyway–but the Empire State’s influence elsewhere may be a longer-term problem.

Is cryptocurrency mining draining Iran's power grid?

President Hassan Rouhani told a cabinet meeting the main cause of the blackouts was a drought that had affected hydro-electric power generation. But he said cryptocurrency mining, 85% of which is unlicensed, was draining more than 2GW from the grid each day. An estimated 4.5% of all Bitcoin mining takes place in Iran.

Will Rouhani ban cryptocurrency until 22 September?

But Mr Rouhani said on Wednesday that unlicensed facilities were using between six and seven times more power and that he therefore had to ban all cryptocurrency activities until 22 September.