Iran: Power plants approved to run Bitcoin mining operations

Bitcoin mining operations

The Iranian government has approved Bitcoin mining operations to be conducted in power plants across the country. Industry scale power plants now have the capacity to serve as also crypto mining farms so long as they do not use cheap subsidized electricity tariffs in their activities.

Reports on Monday July 27 suggest Mostafa Rajabi Mashhadi, who is the Deputy Managing Director at Tavanir a firm that deals with generation and distribution of power, confirmed to the IRNA publication that the government has indeed allowed crypto mining in power plants.However the government has also laid down regulations to govern power plants  as they go on with their mining operations.

Bitcoin Mining operations to observe set regulations from the government

Mashhadi, also highlighted the set by the authorities regulations for cryptocurrency mining farms to follow. Mining farms now have to fully comply to set tariff prices on electricity consumption. In addition mining farms are now required to apply for crypto mining permits. The permits are to be submitted to the Ministry of Industry, Mine, and Trade awaiting approval.

Power plants are again banned from using cheap fuel in their activities. Mashhadi further insists that the government won’t tolerate cheap fuel to be used since adequate supply of electricity to all citizens is a top priority for the government.

The government also offered a generous reward to anyone willing to report any illegal mining operations observed to the authorities.It is worthy to note that China currently ranks as the top mining.nation in the world. Most miners set camp in the remote parts due to cheap costs on power consumption.

Bitcoin mining permits already been issued 

Since Bitcoin mining operations were allowed the government has already issued 1000 permits to power plants.Also a total of 14 crypto miners in the country have already requested for 300 kilowatt electricity capacity for their operations. The capacity already requested equates to a total of three provinces in the country.

Arnold Kirimi

Arnold Kirimi

Arnold is a crypto and blockchain enthusiast. A communications expert with interest in hard-hitting journalism, he is always on the hunt for the latest events in the cryptocurrency world. He is inspired by what Bill Gates said, “Bitcoin is a technological tour de force.”

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