Iranian Authorities Greenlight Power Plants Mining Bitcoin

Iranian Authorities Greenlight Power Plants Mining Bitcoin

Gate Trade News Thursday, July 30, 2020 31 0

According to Iranian authorities, power plants can mine cryptocurrencies like Bitcoin, but will not be able to take advantage of subsidies.

 

Iran has announced that it will now allow industrial-scale power plants in the country to operate as Bitcoin miners provided they don’t use subsidized fuel.

 

In a statement to the Islamic Republic News Agency (IRNA) on July 27, Mostafa Rajabi Mashhadi, a Deputy Managing Director at Tavanir, Iran's Power Generation, Transmission and Distribution Management Company, said power plants in the country could operate as Bitcoin mines “if they comply with approved tariffs" and have the necessary licenses.

 

Mashhadi said that any power plant considering such a venture could not use subsidized fuel for crypto mining.