Iran allows bitcoin mining at local power plants

Iran has allowed large-scale BTC mining operations at power plants. Interested businesses will have to follow certain rules, some of them have already applied for mining.

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

Mostafa Rajabi Mashhadi, deputy head of Iran’s national electricity council, Tavanir, said power plants could mine BTC if they comply with regulator requirements, 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 mine BTC worth more than $ 9,000,” Mashhadi said.

He added that Iran has the lowest electricity tariffs. This is beneficial for BTC miners who are generally looking for cheap electricity and cool climates to maximize profits.

Interested businesses have already started submitting requests for mining permits. An energy council spokesman said they have already received more than 14 applications to set up BTC mining units.

Meanwhile, Mashhadi said illegal bitcoin miners would face legal consequences. He announced a $ 240 reward for those reporting unregistered BTC mining ventures.

In May, the Iranian Ministry of Industry and Trade issued a license to launch one of the largest mining farms for 6,000 devices to the Turkish company iMiner. In the same month, Iranian President Hassan Rouhani ordered the government to develop an updated national strategy for the development of the cryptocurrency mining industry. It was also reported in July that Iranian miners must register with the regulator within a month.

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