At some point, electricity might no longer be a problem for Iranian crypto miners. In addition to having access to cheap electricity for mining, Iran’s Thermal Power Plant Holding Company (TPPH) is looking to provide surplus energy from three different power plants to crypto miners in the country for sale.
Iran has seen an influx of miners after the activity was officially recognized by the government. Now, electricity providers in the country are looking to capitalize on the industry.
Iran’s crypto miners can expect about 5,485 MWh
As Tehran Times reported on Monday, the three power plants are all operated by the TPPH. It is estimated that the power plants can generate about 5,485 megawatt-hours (MWh), all combined. This should be enough to power several cryptocurrency mining facilities in the country. Meanwhile, Iranian crypto miners can start offering to purchase the electricity.
“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.”Mohsen Tarztalab, the head of TPPH, commented.
By providing the electricity to miners on sale, Tarztalab viewed the development as another option for the power company to generate more revenue. He admitted that electricity companies had to provide energy to subscribers at a fixed price, despite the constant price hikes in power production.
So, this has “caused a large gap between revenues and expenditures in the country’s electricity industry,” with every energy provider seeking a new source of revenue to fill up the gap.
The head of TPPH further mentioned that these power plants would operate with expansion turbines that only require natural gas. This is considered more healthy and cleaner compared to turbines powered by fossil fuels. More so, the three power plants are not connected to the country’s power grid, so the electricity produced might outrightly be available for sale to the Iranian cryptocurrency mining industry.