Iranian Power Plants can mine Cryptocurrencies

Iranian Power Plants can mine Cryptocurrencies

Mostafa Rajabi Mashhadi, spokesman for the electricity industry told IRNA that the power plants could be active in cryptocurrency mining.

As we informed you in a recent article, Iran is comes to the leading places in Bitcoin mining and according to its production capacity, it ranks third together with countries such as Russia and Kazakhstan. We also wrote about how Iran has licensed for the first time a BTC mining farm with 6,000 machines and the value of the equipment alone is stated as IRR 300,000 million (USD 7.2 million).

The Iranian authorities, led by Mashadi, emphasize that the necessary electricity will be obtained by those who have the licenses from the ministry and comply with the tariffs approved by the virtual currency mining centers. If the power plants concerned decide to mine, they will have to meet another of the conditions, namely that they will not be able to use subsidized fuel.

Iran is reacting in this context because it currently has one of the cheapest tariffs for electricity

In the interview, Mashadi also highlights:

Now we’re in a situation where the supply of electricity is of great importance to the public and we will not allow those who abuse the tariffs set for the agricultural and industrial sectors to produce bitcoins.

The Iranian authorities currently report 14 applications received for the establishment of cryptocurrency centers, and a spokesman said:

interested parties had requested more than 300 MW, equivalent to the consumption of the three provinces in the country to be provided.

Read also: Iran has licensed for the first time a BTC mining farm with 6,000 machines

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