Cryptocurrency news

Iran has allowed bitcoin mining at local power plants

Iran has allowed bitcoin mining at local power plants

Iran has allowed large-scale operations to extract BTC at power plants. Interested companies will have to comply with certain rules, some of them have already submitted applications for mining.

According to local publication Irna News, Iran has allowed the country’s largest power plant operators to deploy and operate farms for bitcoin mining, subject to certain rules.

The Deputy head of the national electricity Council of Iran Tavanir Mustafa Rajabi Mashhadi (Mostafa Rajabi Mashhadi) said that power plants can produce BTC if they meet the requirements of the regulator, obtain the necessary licenses and use non-subsidized electricity. In addition, power plants should not infringe on the interests of citizens.

“Now, and in a situation where the supply of electricity is of great importance to the population, we will not allow those who use the tariffs provided for the agricultural and industrial sectors for their own purposes to extract BTC worth more than $9000,” Mashhadi said.

He added that Iran has the lowest electricity tariffs. This is beneficial for BTC miners, who tend to look for cheap electricity and a cool climate to maximize profits.

Interested companies have already started sending requests for mining permits. A spokesman for the energy Council said they had already received more than 14 applications to set up BTC mining units.

Meanwhile, Mashhadi said that illegal bitcoin miners will face legal consequences. He announced a $240 reward for those who report unregistered BTC mining businesses.

In may, the Ministry of industry and trade of Iran issued
license to run one of the largest mining farms on 6,000 devices of the Turkish company iMiner. In the same month, Iranian President Hassan Rouhani ordered
the government should develop an updated national strategy for the development of the cryptocurrency mining industry. In July, it was also reported that Iranian miners must register with the regulator within a month.