Fri, December 1

Iran Issued Authorized Licenses to 30 Crypto Mining Farms

Iran Issued Authorized Licenses to 30 Crypto Mining Farms Blockchain News

The Iranian Government approved authorized licenses to 30 crypto mining farms to mint digital currencies. The authorities planned to prevent unlawful miners in the country. 

Iran’s licensed crypto mining farms

The crypto mining farms are extending across several regions of Iran including Tehran Province. So Iran’s authorities have so far issued 30 facilities for cryptocurrency mining. Iran’s federal authorities initiated this act to avoid illegal mining and miners of digital currencies within the nation. 

Moreover, crypto mining farms in Iran lie in Tehran Province which is the capital of Iran. It is throughout a number of areas located in different provinces. In addition, the mining farms are also situated in Semnan Province. It is the prominent region to the east of Tehran which holds more number of authorized facilities, with six crypto farms. Followed by Alborz Province with four crypto farms and Mazandaran, East Azerbaijan, and Zanjan provinces.

The Iranian newspaper, the Financial Tribune revealed that, Iran authorities provided 2,579 permits for industrial sectors across Islamic Republic. Out of which 305 are in Zanjan Province, 262 permits for Fars Province and 247 permits for West Azerbaijan.

Difficulties for Authorized Iranian Miners 

The Iranian Authority legalized digital currency mining two years ago. Besides, the crypto market maintained a bullish frame with low costs for mining the currencies. The act of mining cryptocurrencies was a top business in Iran last summer. 

However, In last week of May the Iranian Federal’s announced to plug-out the power for cryptocurrency miners due to over consumption of power. The nation worries about crypto mining centers consuming more energy and power due to illicit operations.

Due to the illegal miners activities, Iran suffered from electricity shortage. Additionally, Iran’s authorities seized 3,000 units of mining hardware from illegal centers. Recently, Iranian police impounded 7,000 bitcoin mining machines.

Therefore, based on all these issues Iran planned to ban cryptocurrency entirely till the month of September.

Recommended for You

A Professional HR with a huge interest in blockchain technology and cryptocurrency. Through her content writing skills, she became a passionate contributor to the crypto space. Being an active crypto enthusiast she is investing her time and experience into the digital sphere.