Authorities in Iran have revised some rules for the crypto mining industry in order to facilitate its access to green power. Licensed miners will now be able to purchase electricity produced from renewable sources from across the country at lower rates.
Iran’s Ministry of Energy has changed certain crypto mining regulations to ease access to renewable power for entities authorized to mint digital currencies in the Islamic Republic.
A recently issued decree relieves miners from the obligation to use on-site power generation capacities and permits them to buy electricity from renewables from across the country and through the national grid, Bargqnews unveiled.
Until now, mining enterprises could only sign contracts with renewable power plants located in the same province, pointed out Mohammad Khodadadi, an official at the Iran Power Generation, Transmission and Distribution Company (Tavanir).
Quoted by the English-language business news daily Financial Tribune, the report also revealed that Iranian firms mining legally with clean energy will not be charged the regular transmission fees for using the country’s electricity network.
Iran has been experiencing power shortages during the hot and dry summers and cold winter months and partially blamed the energy-intensive bitcoin mining for the deficit. In 2021, registered crypto farms were ordered to shut down their power-hungry equipment on more than one occasion.
Such improvised crypto farms are often powered with subsidized household electricity and have become a popular income source for many Iranians. During numerous raids so far, Tavanir employees have confiscated hundreds of thousands of mining devices.
Do you think Iran will allow crypto miners to resume operations before the end of the summer? Share your expectations in the comments section below.
