August 4, 2020

Iranian power plants allowed to mine

Iranian power plants allowed to mine

The authorities allowed industrial power plants to mine cryptocurrency legally, but without the possibility of using subsidies.

Deputy Manager of the Iranian company forelectricity generation Tavanir Mostafa Rajabi Mashhadi said that even with the necessary license, power plants will be able to mine only at approved state electricity tariffs. Energy enterprises will also not be able to count on any additional benefits and subsidies.

According to him, now supplies of electricity are of great importance to the population and the authorities cannot allow the use of lower tariffs intended for agriculture and industry for bitcoin mining.

According to the official news agencyIran, 14 large mining farms consume as much energy as the country's three provinces. At the same time, the authorities have already announced the issuance of 1,000 licenses to organize a business for the extraction of cryptocurrencies.

Due to low electricity prices, manyIranian entrepreneurs are tempted to use the subsidized tariffs for secret mining. To combat illegal mining, the authorities announced that they would pay citizens a reward of $ 2,380 for exposing such a business.