Iran, pressured by power blackouts and pollution, targets Bitcoin

Iran, pressured by power blackouts  and pollution, targets Bitcoin
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Updated 23 January 2021

Iran, pressured by power blackouts and pollution, targets Bitcoin

Iran, pressured by power blackouts  and pollution, targets Bitcoin
  • The government launched a crackdown on Bitcoin processing centers, which require immense amounts of electricity to power their specialized computers — a burden on Iran’s power grid

Iran’s capital and major cities plunged into darkness in recent weeks as rolling outages left millions without electricity for hours. Traffic lights died. Offices went dark. Online classes stopped.
With toxic smog blanketing Tehran skies and the country buckling under the pandemic and other mounting crises, social media has been rife with speculation. Soon, fingers pointed at an unlikely culprit: Bitcoin.
Within days, as frustration spread among residents, the government launched a wide-ranging crackdown on Bitcoin processing centers, which require immense amounts of electricity to power their specialized computers and to keep them cool — a burden on Iran’s power grid.
Authorities shuttered 1,600 centers across the country, including, for the first time, those legally authorized to operate. As the latest in a series of conflicting government moves, the clampdown stirred confusion in the crypto industry — and suspicion that Bitcoin had become a useful scapegoat for the nation’s deeper-rooted problems.
Since the US unilaterally withdrew in 2018 from Tehran’s nuclear accord with world powers and re-imposed sanctions on Iran, cryptocurrency has surged in popularity in the Islamic Republic.
For Iran, anonymous online transactions made in cryptocurrencies allow individuals and companies to bypass banking sanctions that have crippled the economy. Bitcoin offers an alternative to cash printed by sovereign governments and central banks — and in the case of Iran and other countries under sanctions like Venezuela, a more stable place to park money than the local currency.
“Iranians understand the value of such a borderless network much more than others because we can’t access any kind of global payment networks,” said Ziya Sadr, a Tehran-based Bitcoin expert. “Bitcoin shines here.”
Iran’s generously subsidized electricity has put the country on the crypto-mining map, given the operation’s enormous electricity consumption. Electricity goes for around 4 cents per kilowatt-hour in Iran, compared to an average of 13 cents in the United States.
Iran is among the top 10 countries with the most Bitcoin mining capacity in the world — 450 megawatts a day. The US network has a daily capacity of more than 1,100 megawatts.
On Tehran’s outskirts and across Iran’s south and northwest, windowless warehouses hum with heavy industrial machinery and rows of computers that crunch highly complex algorithms to verify transactions. The transactions, called blocks, are then added to a public record, known as the blockchain.
Iran’s government has sent mixed messages about Bitcoin. On one hand, it wants to capitalize on the soaring popularity of digital currency and sees value in legitimizing transactions that fly under Washington’s radar. It authorized 24 Bitcoin processing centers that consume an estimated 300 megawatts of energy a day.
On the other hand, the government worries about limiting how much money is sent abroad
and controlling money laundering, drug sales and internet criminal groups.


UAE’s Sheikh Tahnoun bin Zayed meets with Iranian leader

UAE’s Sheikh Tahnoun bin Zayed meets with Iranian leader
Updated 12 sec ago

UAE’s Sheikh Tahnoun bin Zayed meets with Iranian leader

UAE’s Sheikh Tahnoun bin Zayed meets with Iranian leader

TEHRAN: Sheikh Tahnoun bin Zayed Al-Nahyan, the UAE’s National Security Adviser, met with Iranian president Ibrahim Raisi on Monday, state news agency WAM said in a report.
During the meeting, both sides discussed bilateral relations between the two nations and potential ways to enhance these ties. 
Al-Nahyan and Raisi also exchanged views on several issues of common interest.


UAE’s Sheikh Tahnoun bin Zayed meets with Iranian leader

UAE’s Sheikh Tahnoun bin Zayed meets with Iranian leader
Updated 20 sec ago

UAE’s Sheikh Tahnoun bin Zayed meets with Iranian leader

UAE’s Sheikh Tahnoun bin Zayed meets with Iranian leader

TEHRAN: Sheikh Tahnoun bin Zayed Al-Nahyan, the UAE’s National Security Adviser, met with Iranian president Ibrahim Raisi on Monday, state news agency WAM said in a report.
During the meeting, both sides discussed bilateral relations between the two nations and potential ways to enhance these ties. 
Al-Nahyan and Raisi also exchanged views on several issues of common interest.


Four Iraqi Kurdish fighters killed in attack blamed on Daesh

Four Iraqi Kurdish fighters killed in attack blamed on Daesh
Updated 06 December 2021

Four Iraqi Kurdish fighters killed in attack blamed on Daesh

Four Iraqi Kurdish fighters killed in attack blamed on Daesh
  • Five other Peshmerga fighters were wounded in the violence late Sunday in northern Iraq

BAGHDAD: Four Iraqi Kurdish Peshmerga fighters were killed in an attack blamed on the Daesh group, a security official said Monday, the third such assault in less than two weeks.
Five other Peshmerga fighters were wounded in the violence late Sunday in northern Iraq that targeted an outpost north of Kirkuk, the source said.
Kurdish army forces confirmed the deadly attack but did not say how Peshmerga fighters were killed in wounded, in a statement accusing Daesh of responsibility.
It was the third attack blamed on Daesh militants in less than two weeks against the Kurdish fighters in northern Iraq.
On Thursday, Daesh claimed responsibility for an assault south of the Kurdish capital of Irbil that killed at least nine Peshmerga fighters and three civilians.
At the end of November, five Peshmergas were killed in a roadside bombing also claimed by the militant group.
Daesh seized swathes of Iraq in a lightning offensive in 2014, before being beaten back by a counter-insurgency campaign supported by a US-led military coalition.
The Iraqi government declared the extremists defeated in late 2017, although the Daesh retains sleeper cells which still strike security forces with hit-and-run attacks.


Israel: Palestinian car-rammer wounds guard, is shot dead

Israel: Palestinian car-rammer wounds guard, is shot dead
Updated 06 December 2021

Israel: Palestinian car-rammer wounds guard, is shot dead

Israel: Palestinian car-rammer wounds guard, is shot dead
  • Palestinians have carried out dozens of stabbing, car-ramming and occasional shooting attacks in recent years
  • Most have been carried out by lone attackers with no known connection to militant groups

JERUSALEM: A 16-year-old Palestinian rammed a vehicle into an Israeli checkpoint in the West Bank overnight, wounding a security guard before being shot and “neutralized” at the scene, the Israeli Defense Ministry said Monday.
Israeli media reported that the alleged attacker was killed, while a ministry official declined to comment further.
The attack came two days after a Palestinian from the occupied West Bank stabbed and wounded an Israeli man just outside Jerusalem’s Old City and tried to stab a Border Police officer before being shot and killed. Video taken by bystanders showed the police continuing to shoot the attacker after he had dropped to the ground and preventing medics from approaching him.
The shooting drew comparisons to a 2016 incident in which an Israeli soldier was caught on camera shooting a wounded Palestinian attacker who was lying on the ground. The soldier was imprisoned for several months in a case that divided the country.
The Israeli Justice Ministry said the two officers involved in Saturday’s shooting were brought in for questioning before being released without conditions. Prime Minister Naftali Bennett and other top officials have praised the officers’ response to the attack.
Palestinians have carried out dozens of stabbing, car-ramming and occasional shooting attacks in recent years. Most have been carried out by lone attackers with no known connection to militant groups, which have praised the attacks without claiming responsibility for them.
Rights groups say Israel sometimes uses excessive force, killing suspected attackers who could have been arrested and did not pose an immediate threat. Israeli officials say forces must make split-second decisions in dangerous situations and that all such incidents are investigated.
Israel captured the West Bank in the 1967 war. The Palestinians want it to form the main part of their future state. The territory’s 2.5 million Palestinian residents live under Israeli military rule, with the internationally recognized Palestinian Authority administering cities and towns.


Nigeria added to Bahrain’s travel ‘red list’

Nigeria added to Bahrain’s travel ‘red list’
Updated 06 December 2021

Nigeria added to Bahrain’s travel ‘red list’

Nigeria added to Bahrain’s travel ‘red list’
  • The recent directive comes amid an increase in the number of diagnosed COVID-19 omicron cases around the world

MANAMA: Nigeria has been added to Bahrain’s travel ‘red list’ as part of a new update announced on Sunday by the National Taskforce for Combating the Coronavirus (COVID-19) and the country’s Civil Aviation Affairs. 
According to Bahraini authorities, the list also includes South Africa, Namibia, Botswana, Zimbabwe, Lesotho, Eswatini, Malawi, Mozambique, Angola and Zambia.
Passengers from red list countries are prohibited from entering Bahrain, including those who have transited through the mentioned countries; however, this does not apply to citizens and residents of Bahrain.

The recent directive comes amid an increase in the number of diagnosed COVID-19 omicron cases around the world, which was first detected in southern African nations. 

Several countries have already imposed travel restrictions on southern Africa, including the UAE, US, Britain, Brazil, Indonesia, Kuwait and the Netherlands.