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November 27, 2022
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Iranian authorities have so far approved 30 cryptocurrency mines –

Iranian authorities have approved 30 cryptocurrency mines so far. The facilities are spread over several regions, including the province of Tehran. The government published this data in connection with a trial on illegal BTC mining in the country.

Iranian authorities and BTC

It is worth adding that a third of approved BTC mines are located in two provinces. The Iranian Ministry of Industry, Mining and Trade alone has licensed only 30 such places. This was revealed by the Financial Tribune this week, citing official figures posted on the department’s website. One of these mining farms is located in the province of Tehran, where the country’s capital is located.

Semnan Province, an administrative region east of Tehran, is home to the largest number of licensed facilities with six cryptocurrency farms. Alborz is next with four, followed by Mazandaran, East Azerbaijan and Zanjan.

The ministry also issued 2,579 permits to establish new industrial units throughout the Islamic Republic, 305 of which are located in the province of Zanjan. Fars Province, with 262 permits, and West Azerbaijan, with 247 permits, rank second and third respectively.

You can legally mine BTC!

Iran approved cryptocurrency mining as legal activity two years ago. The government has introduced a licensing system for entities wishing to engage in the industry. The report indicates that 14 extraction farms last summer operated under such licenses

High cryptocurrency prices and low energy costs – authorized miners were initially offered a discount of almost half of the usual electricity rate – made cryptocurrency mining an attractive business in Iran. The situation changed, however, and this year’s power shortages were reportedly partly caused by mining.

In May, authorities said they would cut off electricity to licensed cryptocurrency miners during peak energy hours. According to government estimates, authorized BTC mines consume about 300 megawatts of electricity per day.

Tehran also pursued illegal miners, accusing them of consuming more than 2,000 megawatts a day. According to the state-owned energy company Tavanir, the country’s electricity deficit is 5,000 megawatts. Ultimately, Iran decided to ban cryptocurrency mining entirely.

During the year, Iranian law enforcement closed more than 180 cryptocurrency farms in the province of Tehran alone. Earlier in June, authorities confiscated 3,000 units of mining equipment from illegal companies. Last week, Iranian police confiscated 7,000 Bitcoin mining machines.

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