THE COST OF SUBSIDIES: Iran’s Rolling Blackouts & Thick Smog Blamed On ‘Illegal’ Bitcoin Mining. “Amid crippling US-led sanctions on Iran and a continually weakened currency, enterprising young Iranians are taking advantage of the country’s cheap electricity to mine Bitcoin, however, it’s coming at a huge cost to fellow citizens as the immense power-sucking process of mining the cryptocurrency has contributed to a national electricity shortage and rolling blackouts.”