Iran’s energy authorities are experiencing enormous pressure on the electricity grid from cryptocurrency miners and have had to come up with a new solution.
The Iranian electricity industry is running at full capacity after issuing more than 1,000 licenses for cryptocurrency mining units. The government as well as the representatives of energy companies presented a new solution to reduce the pressure on the national distribution network, informs Tehran Times.
From now on, some power plants may offer excess electricity exclusively to cryptocurrency miners, provided that they are unable to benefit from government subsidies.
One of the first bidders was the Thermal Power Plant Holding Company (TPPH), whose boss announced today that the company will hold a tender for the supply of electricity from three power plants for cryptocurrency miners.
Mohsen Tarztalab, head of TPPH said:
“The Necessary equipment has been installed in three power plants of Ramin, Neka, and Shahid Montazeri, and the auction documents will be uploaded on the SetadIran.ir website in the near future,
According to Mohsen, the sale of electricity for cryptocurrency miners is one of the ways in which power plants can make money, because they currently see a large gap between income and expenditure, and they need such new sources of income to fill this gap.
According to the laws and regulations announced by the cabinet and the Energy Ministry, we have been allowed to allocate some capacity of our power plants for mining cryptocurrencies.