Miners are increasingly looking for new ways to increase profitability in the face of continued cryptogamy. Some refused hashing by disabling the equipment, the others began to look for ways to increase profit margins. The choice of the place where began to move miners from China, may be very surprised.
Iran, a middle Eastern country, quickly became the new home of the mining of cryptocurrencies. Attracted by low electricity prices, miners of the cryptocurrency rushed to a major exporter of electricity in the middle East.
According to Caijing, in the last five years, from March 2013 to March 2018, Iran exported almost 43 billion kilowatt-hours of electricity to neighbouring countries, worth $4.1 billion.
The Iranian power plants no regular customers. Many of the smaller stations face a crisis of sales and are forced to offer very low prices for electricity.
The problem faced by many Chinese miners in the transportation of their equipment in Iran — customs, which is very suspicious of the importation of various equipment.
It made many move to make the whole Odyssey, transporting the equipment by sea. The process takes more than 20 days and is divided into two phases. The first stage from China to the international transit station in Dubai. This section of road is relatively simple: you can take any transportation company, the transportation cost of the machine is $1-2. The second stage — from Dubai to farms in Iran.
However, this problem does not end there. Currently, Iran has banned the import of mining equipment, with the result that, according to Hunting Finance, the customs office at the border accumulated of 30 000 to 40 000 machines, currently under the control of the guards.
Mining cryptocurrency in Iran is still imperfect, because the law does not determine its legal status. In other words, the Iranian government may at any time prohibit mining.
In any case, it is the practice of miners will take any efforts to preserve their business. They will continue to look for new ways and maybe return to China.