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Iranian Authorities Allow Power Plans To Mine Cryptocurrencies

The Iranian authorities have finally given a green light to power plants in the country to mine cryptocurrencies such as Bitcoin but they will not be able to take advantage of government subsidies as per the reports that we have in our latest cryptocurrency news. Iran announced that it will now allow the industrial-scale power plants in the country in order to operate as Bitcoin miners provided that they will not use the subsidized fuel. In a statement from the Iranian authorities, specifically the Islamic Republic News Agency, Mostafa Rajabi Mashhadi, the deputy managing director at Iran’s Power Generation, Transmission…

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Power Plants in Iran Are Authorized to Mine Bitcoin

Power plants in Iran are allowed to mine cryptocurrencies, the deputy head of the country’s Power Generation, Distribution, and Transmission Company (Tavanir) has reportedly confirmed. Mostafa Rajabi Mashhadi, deputy head of Tavanir, explained that entities have to apply for the necessary licenses from the Ministry of Industry, Mine and Trade, and comply with the tariffs set for crypto mining. He told IRNA publication on Monday: The power plants must submit their requests, and follow the approved tariff set for cryptocurrency mining centers. Miners have been setting up operations in Iran to take advantage of the country’s subsidized electricity rates. Data…

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