Iranian authorities seize over a thousand Bitcoin machines

Iranian authorities have escalated a long-brewing crack down on the crypto industry. Reports have just emerged that over a thousand Bitcoin machines have been seized by police in the Central Asian. The crypto mining machines belonged to two separate factories. The move was supposedly driven by a soaring electric consumption that Iranian authorities blamed on crypto traders In the month of June, electrical output spiked by nearly seven percent (7%), following which a representative from the government issued a statement warning crypto miners to curtail their power consumption. According to analysts, cryptocurrencies and Bitcoin have been steadily gaining traction in