According to Mohammad Khodadadi, a representative of the Iran Power Generation, Transmission and Distribution Company, mining companies were previously limited to signing contracts with renewable energy facilities that were situated in the Tavanir region.

A recently issued regulation, however, exempts miners from the requirement to use on-site power generation capabilities and allows them to purchase electricity from renewable sources across the nation and through the national grid, according to a local news publishing outlet.

For organisations permitted to mine digital currencies in the Islamic Republic, the Ministry of Energy of Iran has altered some crypto mining regulations to make it easier for them to get renewable energy.

As per Financial Tribune, Iranian companies who lawfully mine using clean energy won’t be charged the standard transmission fees for accessing the nation’s electrical infrastructure.

The energy-intensive bitcoin mining has been largely blamed for Iran’s electricity problems during the blistering summers and freezing winters. Last year, multiple crypto fields were given orders to turn down their energy-intensive machinery.

The mining industry has seen improvements since the Iranian government announced its decision to permit green energy power plants to supply authorised miners in December. The energy ministry in Tehran took the initiative to make such a modification.

Additionally, the state-owned utility promised to take harsh action against unauthorized bitcoin miners by increasing fines for such activity by 400%. Almost 7,000 facilities minting virtual currency in violation of the law were found and shut down by the Iranian government, according to official statistics made public in May.

These improvised crypto farms are now a common source of income for many Iranians and are frequently fueled by free or cheap household electricity. Tavanir employees have so far seized hundreds of thousands of mining devices during multiple searches.

Tavanir yet again instructed miners to halt operations until the end of the summer, citing anticipated electricity shortages amid rising demand due to an increase in cooling-related usage. The nation’s crypto community reacted negatively to the limitations.


Comments are closed.

Copy link
Powered by Social Snap