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Crypto miners in Iran to face tariffs

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Crypto miners in Iran have long been a pain in the neck for the Islamic country’s governing authorities. Last month, news reports arose that leading figures from the government had reprimanded crypto miners for boosting power consumption, pointing fingers at miners for a 7% electricity spike in the nation.

Now, it seems the Central Asian country is finally ready to direct a response to its crypto mining problem. News reports from esteemed sources state that Iran’s Economic Commission has formulated a set of ‘power tariffs’ for crypto miners, founded on the same system of tariffs used for electricity imports.

Apparently the news was put forth by the nation’s deputy energy minister for power and electricity, Homayoun Ha’eri. However, according to reports, although the tariffs have been finalized, they still need to be approved by the nation’s cabinet before being officially instituted.

The minister failed to disclose the specific rates drawn up by the Economic Commission. According to him, electricity export prices are influenced by a multitude of factors, such as fuel prices in the Gulf region.

The news comes in start contrast to events that had been brewing earlier on this month, when the Iranian government was apparently mulling passing an authorization for mining. However, it was supposedly meant to be under two conditions – firstly, that the mining be ‘based on the price of electricity for export,’ and two, that the cryptocurrencies acquired from the mining process be injected back into the nation’s economic system.

Siranjeev Santhanam

Siranjeev Santhanam

Siranjeev has been involved in content development and professional writing for over five years now. He's worked with tech firms, digital management companies and news outlets. Cryptocurrency has occupied one of his top interests for a few years now, and he's really passionate about this booming new sector.

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