Reports have emerged that the Iranian Ministry of Industry, Mine and Trade has issued Turkey-based BTC miners – iMiner – an operating license. The company has already injected over 311 billion Rials an equivalent of $7.3 million dollars into the Iranian based mining farm.

The farm boasts up to 6000 rigs which can produce colossal computing power of about 96000 terra hashes per second combined. This put each rigs mining capacity at an averaged 16 TH/s digits only matched by the Aladdin Miner.

Iran’s subsidized energy bills have been the main factor for its escalated crypto activity. Attracting miners and investors from China and all over Europe, as has been the trend for regions with cheap electricity reeling in crypto investors notably China and Texas US.

Iranian President Hassan Rouhani was of the opinion that coming up with a standard cryptocurrency for Islamic states would be their much sought after alternative to the break US dollar monopoly. Iran has been on the receiving end of US sanctions including economic, military, scientific, and even trade-related sanctions since 1979.

Rouhani, alongside other leaders hosted in a summit last year in Malaysia, shared the sentiment that the US dollar has so far worked against them stunting their economies. Iran’s top military official has also called on their top officials and citizens to take up cryptocurrencies in a bid to improve their stunted economy.

Iran has since softened its harsh stance on crypto miners as they have already approved and issued over 1000 licenses to various miners so far including iMiner. Last year they published a dossier on the country’s power consumption which shows that the tiny central Semnan province had indeed overtaken the vast province of Khuzestan mostly attributed to miners.

This is as they looked to crackdown on ‘illegal miners’ offering up to 20% from the recovered damages to incentivize whistleblowing. These miners were deemed illegal after the just passed regulations that sought to pause miner activity at the peak times of electricity consumption.

According to Iranian Energy Ministry spokesman, Mostafa Rajabi, the average price of energy per kW/h which is roughly $0.29 almost halves during cold times. While during the hot periods it more than quadruples due to heavy consumption recorded all over the country.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

279 +