Skip to main content

Iran Licenses 14 Bitcoin Mining Farms, Cuts Electricity Tariff up to 47% for Miners



Iran has reportedly issued permits for 14 bitcoin mining farms and will cut up to 47% off of the electricity tariff in order to support authorized cryptocurrency mining centers. Crypto miners will soon have to register with the government.

Iran Licenses More Crypto Mining Farms

The Islamic Republic of Iran has reportedly issued permits for 14 cryptocurrency mining farms, each with a capacity of 300 megawatts, Tehran-headquartered Mehr news agency reported Sunday.

Cryptocurrency mining has been an authorized activity in Iran since July last year and the country’s Ministry of Industry, Mine and Trade has issued over 1,000 licenses to crypto miners. However, not all authorized mining farms are currently in operation. In May, Iran licensed Iminer, a $7.3 million bitcoin mining enterprise.

Nonetheless, Iran has been trying to combat a growing number of miners smuggling their equipment into the country. Mostafa Rajabi Mashhadi, deputy head of Iran’s Power Generation, Distribution, and Transmission Company (Tavanir), said that the Iranian government has identified 1,000 illegal cryptocurrency mining farms spread across the country.

Miners have been flocking to Iran largely due to its subsidized electricity rates. Data shows that mining farms in Iran are paying as little as $0.01 to $0.05 for one kilowatt-hour (kWh) of electricity. However, the rates increase four-fold during the peak summer season, from June to September. The Financial Tribune reported Sunday:

In a bid to support authorized cryptocurrency mining, Iran Power Generation, Distribution and Transmission Company (Tavanir) said it will cut up to 47% of the electricity tariff for miners during the peak consumption periods.

 Mostafa Rajabi told state TV that the aim of the tariff cut is to support legal mining farms during the four summer months. “To be eligible for the incentives, the miners can take part or invest in Tavanir’s recent efficiency plans such as the ongoing project to replace one million old (gas-powered) air conditioners with energy-efficient ACs,” the publication quoted him as saying.

Meanwhile, cryptocurrency miners will soon have to register with the government. Iranian Vice President Eshaq Jahangiri Kouhshahi announced last week:

Miners will have to disclose their identities, the size of their mining farms and their mining equipment type with the Ministry of Industry, Mine and Trade.

Source:news.bitcoin.com 

What do you think about crypto mining in Iran? 

Let us know in the comments section below.

Comments

Post a Comment

Contact us

Name

Email *

Message *

Popular posts from this blog

For my haters

₿  This is for people who told me to not put my money in Bitcoin 10 years ago 😂 RIP doubters and haters. #Bitcoin 💀 pic.twitter.com/sbuDljJtMv — Carl ₿ MENGER ⚡️🇸🇻 (@CarlBMenger) May 13, 2025
Post a Comment
Read more

Coinbase to Require Recipient Information for Crypto Transfers From Users in Canada, Singapore and Japan

  Customers in those countries who send crypto outside their Coinbase accounts must provide recipients’ names, addresses and in some cases, additional information, as of early April. Cryptocurrency exchange Coinbase Global (COIN) will soon require its customers in Canada, Japan and Singapore who send cryptocurrency to another financial institution or exchange to provide the name, address and in the case of Japan, the destination wallet of the recipient. Coinbase has been sending notices to its customers in those countries that the changes will take effect in early April in order to comply with local travel rules in those places. Coinbase didn't immediately respond to requests for additional comment on the moves, but confirmed that they were taking place. The move  does not seem to be going over well  with Coinbase customers in those countries, who value the anonymity of transactions using cryptocurrency. According to a  FAQ provided by Coinbase , for Canadian users, ...
Post a Comment
Read more

Jupiter plugin on your site

 Jupiter launches Jupiter Plugin , a customizable plugin that doesn't require RPC. PANews reported on August 7th that Jupiter announced the launch of the Jupiter Plugin.  This is an open-source, lightweight, plug-and-play version of Jupiter that allows users to seamlessly integrate end-to-end swap functionality into their applications with minimal effort.  Users can deploy it by simply adding a few lines of code.  Seamless Integration Embed Jupiter's Swap functionality directly into your application without redirection.  Multiple display options: Choose between integrated, widget or modal display modes.  Customizable options: Configure the exchange form to suit your application needs.  No RPC: Plugins can be integrated without any RPC, Ultra is responsible for handling transaction sending, wallet balance and token information.  Ultra Mode: Access all Ultra Mode features. Enjoy!
Post a Comment
Read more