Iran has 30 crypto mining farms licensed to mine digital currencies – mining bitcoin news
The Iranian authorities have so far approved 30 facilities for mining cryptocurrencies. The crypto mining farms are spread across several regions, including Tehran Province. The government released the data as part of a crackdown on illegal miners in the country.
A third of the approved mining operations are in two provinces
Iran’s Ministry of Industry, Mining and Trade has licensed 30 cryptocurrency mining centers, the Financial Tribune announced this week, citing official figures posted on the department’s website. One of these mining farms is located in Tehran Province, where the country’s capital is located.
Semnan Province, the administrative region east of Tehran, is home to the most licensed facilities with six crypto farms. The province of Alborz follows with four provinces, followed by the provinces of Mazandaran, East Azerbaijan and Zanjan.
The ministry has also issued 2,579 establishment permits for new industrial units across the Islamic Republic, 305 of which are in Zanjan Province. The province of Fars with 262 permits and West Azerbaijan with 247 occupy places two and three, according to the English-language Iranian daily.
Iran approved mining of cryptocurrencies as a legal activity two years ago. The government has put in place a licensing system for companies wishing to get involved in the industry. A report showed that 14 bitcoin mining farms operated under such licenses last summer.
Iranian miners face the changing tides
High cryptocurrency prices and low energy costs – authorized miners were initially offered a discount of almost half the regular electricity price – made crypto mining an attractive business in Iran. Things have changed, however, and this year’s power shortage has been partially attributed to the energy-intensive coinage process.
In May, authorities said they would unplug licensed crypto miners during peak electricity usage. The government estimates that authorized mining facilities consume around 300 megawatts of electricity per day.
Tehran also persecuted illegal miners, accusing them of burning more than 2,000 megawatts a day. According to the state energy supplier Tavanir, the country’s electricity deficit is 5,000 megawatts. Finally, Iran decided to ban crypto mining altogether until September 22nd.
In one year, Iranian law enforcement shut down over 180 crypto farms in Tehran Province alone. In early June, the authorities confiscated 3,000 units of mining hardware from illegal companies. Last week, Iranian police seized 7,000 bitcoin mining machines.
What are your expectations for the future of cryptocurrency mining in Iran? Let us know in the comment section below.
Photo credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer of liability: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement for any product, service, or company. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author are directly or indirectly responsible for any damage or loss caused or allegedly caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
source https://bidsfor.me/iran-has-30-crypto-mining-farms-licensed-to-mine-digital-currencies-mining-bitcoin-news/
Comments
Post a Comment