EghtesadOnline: Authorized cryptocurrency miners in Iran have been allowed to resume operations after fuel supply to electricity power plants returned to normal, a spokesperson for Distribution and Transmission Company (Tavanir) said.
EghtesadOnline: Authorities closed 1,620 illegal cryptocurrency mining farms that were used 250 megawatts of electricity since July 2019, when mining was legalized, spokesman of the Power Generation, Distribution and Transmission Company (Tavanir) said.
EghtesadOnline: Cryptocurrency could be used to import electronic devices, says Shahab Javanmardi, a member of the Iran Chamber of Commerce Industries Mining and Agriculture, noting that a change in government approach is necessary for such deals.
EghtesadOnline: Cryptocurrency miners have one month to register smuggled mining equipment, said a deputy minister of Industries, Mining and Trade, the body in charge of authorizing crypto mining industry.
EghtesadOnline: Power plants can supply authorized cryptocurrency miners so long as the electricity is sold at the agreed (lawful) tariffs, a spokesperson for the Power Generation, Distribution and Transmission Company (Tavanir) said.
EghtesadOnline: The government will offer incentives to whistleblowers who name unauthorized cryptocurrency miners to the relevant authorities, managing director of Power Generation, Distribution and Transmission Company (Tavanir) said.
EghtesadOnline: The Ministry of Industries, Mining and Trade has issued 1,000 plus licenses for cryptocurrency mining units so far, an official with Iran’s ICT Guild Organization said.
EghtesadOnline: President Hassan Rouhani on Thursday proposed setting up a transport insurance mechanism for Muslim nations.
EghtesadOnline: The Energy Ministry's recently-announced discounts on power rates for authorized cryptocurrency miners seems to be not enough for making the business financially feasible.
EghtesadOnline: The government's move in July to regulate cryptocurrency mining as a legal industrial activity has been broadly welcomed by miners, though they say minor adjustments in regulations would create room for miners to make significant contribution to the economy.