The government of Iran has given power plants the go-ahead to mine cryptocurrency such as BTC. However, they will not be allowed to take advantage of subsidized fuel.
The assistant managing director of the country’s power generation firm announced that power plants could mine cryptocurrencies so far they can adhere to approved levies and obtain the required clearance and license. He also reiterated that power plants that consider mining cryptocurrencies would not benefit from subsidized fuel.
He said the provision of electricity to the general public is of more importance, and power plants will not be allowed to use the tax meant for other sectors to mine BTC.
Early this year, it was reported that about one thousand licenses had been given for the mining of cryptocurrencies since the government gave the go-ahead. It has also been reported that about 14 power plants had made requests for over 250MW of electricity.
The price structure for crypto miners in the country is subject to factors such as the price of fuel in the middle-east. Cryptocurrency mining requires a lot of electricity, and the cost of electricity in Iran is inexpensive when compared with that of other countries.
Source: Cointelegraph
