Tue, April 16, 2024 at 13:10

• 

  Kang-hoon

  • Hello Annie, today's news is about a recent development in Iraq that has caught the attention of the Bitcoin community.

  • The Deputy Prime Minister of Iraq, Muhammad Ali Tamim, made some statements during a press conference with US Secretary of State Antony Blinken that have stirred speculation about Iraq's potential entry into Bitcoin mining at a nation-state level.

  • 
• Annie

  • Oh, really?😮 That's interesting!

  • What did the Deputy Prime Minister say exactly?

  
• 

  Kang-hoon

  • During the conference, Tamim discussed several initiatives aimed at modernizing Iraq's energy sector and diversifying its economy.

  • One of the key points was the utilization of new technologies to capture flare gas, a byproduct of oil extraction that is often wasted.

• Annie

  • Hmm...I see.

  • And how does this relate to Bitcoin mining?🤔

  
• ADward

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• 

  Kang-hoon

  • Well, this is where it gets interesting.

  • The Bitcoin community is interested in flared gas capturing because this excess gas can be converted into electricity and used to power mining operations.

  • 

  • This not only provides an economically viable solution to a waste problem but also aligns with global efforts to reduce environmental pollution.

• Annie

  • Wow, that's quite innovative!

  • So, does this mean Iraq is planning to start mining Bitcoin?

  
• 

  Kang-hoon

  • That's the speculation.

  • A noted Bitcoin pundit known as Joe Kerr suggested that Iraq might be moving towards adopting Bitcoin mining on a large scale.

  • 

  • He even tweeted about it, interpreting Tamim's statement as a hint towards BTC mining.

• Annie

  • Interesting!😊 But has there been any official confirmation from the Iraqi government about this?

  
• 

  Kang-hoon

  • As of now, there's no official confirmation from the Iraqi government regarding the start of Bitcoin mining operations.

  • It's purely speculation at the moment.

  • However, the connections drawn by Kerr between Tamim's comments are noteworthy.

• Annie

  • I see.

  • And what about other countries?

  • Are there any that officially mine Bitcoin at a nation-state level?

  
• 

  Kang-hoon

  • Yes, there are.

  • As of today, six countries officially mine Bitcoin on a nation-state level.

  • These include El Salvador, the Kingdom of Bhutan, Russia, the United Arab Emirates, Oman and Ethiopia.

• Annie

  • That's quite a list!

  • So, is this news good or bad for the market?

  • What impact could it have?

  
• 

  Kang-hoon

  • If Iraq does indeed start mining Bitcoin, it could be seen as a positive development for the market.

  • 

  • It would mean another country is recognizing the potential of Bitcoin and its underlying technology.

  • However, as with any speculation, it's important to wait for official confirmation before making any investment decisions.

  • Upon comprehensive consideration, this news is perceived as a 😍Bullish.