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January 22, 2022
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Iran Allows Renewable Power Plants to Supply Crypto Miners With Electricity – Mining Bitcoin News

Authorities in Iran have determined to allow energy technology vegetation utilizing renewable sources to promote electrical energy to licensed cryptocurrency miners. The transfer comes after the federal government requested mining firms to droop actions so as to keep away from winter blackouts.

Crypto Miners in Iran to Mint Digital Coins Using Renewable Energy

Regulated firms mining cryptocurrency in Iran will acquire entry to inexperienced power, native media reported. The Ministry of Energy in Tehran has adopted new guidelines permitting vegetation producing electrical energy from renewable sources to provide coin minting enterprises that function throughout the legislation.

“Legal miners can enter into agreements with renewable power plants at negotiable terms and rates,” Mohammad Khodadadi, who heads the Tavanir division answerable for the mining business, advised the ISNA information company. He additionally emphasised that the power ministry will play a job in establishing the precise tariffs.

Tavanir, the Iran Power Generation, Distribution and Transmission Company, is the nation’s state-owned utility that lately ordered licensed miners to unplug their tools. The measure is a part of efforts to forestall blackouts as power demand will increase with dropping temperatures.

The Ministry of Energy has been attempting to cut back using liquid fuels for technology since final month, Tavanir’s spokesman Mostafa Rajabi Mashhadi lately advised the state-run broadcaster IRIB. Shutting down licensed crypto farms is amongst a variety of measures geared toward avoiding electrical energy shortages this winter.

Iran legalized bitcoin mining in 2019 and launched a licensing regime for entities working within the business. Registered crypto farms are shopping for electrical energy at larger, export charges and plenty of Iranian miners are avoiding the obligatory registration to make the most of backed family costs.

In May, then-President Hassan Rouhani introduced a short lived ban on crypto mining amid rising demand for electrical energy and inadequate provide brought on by the terribly scorching climate and droughts. Authorized mining enterprises had been additionally blamed for the shortages.

The nation’s crypto neighborhood criticized the restrictions after estimates indicated that authorized miners devour solely round 300 megawatts day by day, whereas underground crypto farms burn 10 occasions extra. The ban was lifted in September when demand for electrical energy decreased with cooler climate.

Tavanir has been cracking down on unlawful mining operations all year long. Iranian media revealed in November that the utility had confiscated over 220,000 mining machines and shut down virtually 6,000 crypto farms in numerous areas of the Islamic Republic.

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ban, Crypto, crypto farms, crypto miners, crypto mining, Cryptocurrencies, Cryptocurrency, Electricity, Energy, power ministry, Iran, Iranian, Iranians, Miners, mining, energy vegetation, Prices, charges, renewable, Renewable Energy, renewable sources, restrictions, tariffs, Tavanir, utility

Do you assume Iranian crypto miners will settle for the federal government’s supply to use renewable power? Share your ideas on the topic within the feedback part beneath.

Lubomir Tassev

Lubomir Tassev is a journalist from tech-savvy Eastern Europe who likes Hitchens’s quote: “Being a writer is what I am, rather than what I do.” Besides crypto, blockchain and fintech, worldwide politics and economics are two different sources of inspiration.

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