Iran is considering authorizing cryptocurrency mining, which may become a new mining center

Source/31QU

Text/Nakamoto Yu

According to The block, citing pressTV, Abdol Nasser Hemmati, Governor of the Central Bank of Iran, said that the Iranian government is planning to authorize cryptocurrency mining, but there are two conditions: 1. The mining of international cryptocurrencies should be based on the price of exported electricity; 2. The mined cryptocurrencies should be fed back into the national economic cycle.

The idea of ​​opening cryptocurrency mining farms in Iran has long been popular among cryptocurrency miners due to low electricity prices and low costs.

In addition, the mining costs for cryptocurrency miners around the world in their own countries are rising, so more and more miners have chosen to "migrate".

Iran’s Minister of Information and Communications Technology Mohammad Javad Azari Jahromi said that before Iran, most of the world’s cryptocurrency mining activities were carried out in China, but today, Iran is becoming a new center in this field.

Energy consumption for cryptocurrency mining operations in Iran has increased by 7% so far this year. A spokesperson for the Tadvin Electricity Company said that the production of each bitcoin is equivalent to the annual consumption of 24 properties in Tehran, or the electricity consumption of one property for 24 years.

It is worth noting that although the Iranian government is currently considering authorizing cryptocurrency mining, overall, the Iranian authorities' attitude towards the industry remains contradictory.

On the one hand, the Iranian government believes that the main way for mining machines to enter Iran is through smuggling, which will endanger the normal order of the Iranian market. In addition, a large amount of energy is used to mine cryptocurrencies, which puts pressure on Iran’s national power grid and harms the interests of Iranian citizens.

At the end of June this year, Iran seized about 1,000 Bitcoin mining machines.

In addition, Iran’s Supreme Committee for Combating Money Laundering has banned the sale and purchase of Bitcoin in Iran.

But at the same time, Nasser Hakimi, deputy governor of the Central Bank of Iran, also said that a distinction should be made between the production and trading of cryptocurrencies.