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Iran gives the go-ahead for bitcoin mining through industrial power plants

 
Iran gives the go-ahead for bitcoin mining through industrial power plants
Breaking News / Mining / Bitcoin
  • It was recently announced by Iran that they have given the green light to industrial-scale power plants in the country to operate as bitcoin miners. 
  • But this will only go ahead if they don’t use subsidised fuel.

It was recently announced by Iran that they have given the green light to industrial scale power plants in the country to operate as bitcoin miners. But this will only go ahead if they don’t use subsidised fuel.

Mostafa Rajabi Mashhadi, the deputy managing director at Iran is power generation Tavanir recently gave a statement on the issue earlier this week on the 27th of July saying that these patterns could operate as bitcoin miners as long as they comply with the approved tariffs and the necessary licenses. 

He further went on to say that any power plant that considers such a venture would not be able to use subsidised fuel for its mining efforts.

"Now we’re in a situation where the supply of electricity is of great importance to the public. We will not allow anyone to misuse tariffs provided for the agricultural and industrial sectors to produce Bitcoin while it’s worth more than $9,000.”

At the start of this year, mining and trading licenses had been issued by the Ministry of industries in Iran for crypto mining as the government authorised it as an approved industrial activity this time last year.


It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!

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