Iran's Industry Ministry issues 30 licenses to cryptocurrency mining farms

Despite a blanket ban in Iran due to power shortages caused by insufficient rainfall, Iran’s Ministry of Industry, Mines and Trade has exempted some cryptocurrency mining farms across the country.

The Ministry of Finance has approved the operation of 30 cryptocurrency mining farms after issuing licenses, Financial Tribune reported on Wednesday.

Semnan province received six permits, while Alborz province near the capital received four. Also awarded were Mazandaran, East Azabaijan and Zanjan provinces.

Tehran province, the country’s capital and center of political power, has only been granted one mining license there.

In May, Iranian President Hassan Rouhani said cryptocurrency mining operations were taxing the national power grid and must be stopped by September 22 due to an unusually hot summer.

Also in May, Iran’s central bank took action to ban trading in certain cryptocurrencies believed to be mined abroad in an effort to stem capital outflows from the country.

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