The Iranian authorities have decided to allow power plants that use renewable energy to sell electricity to licensed cryptocurrency miners. The move came after the government asked mining companies to suspend activities to avoid power outages in the winter.

Iran’s crypto miners use renewable energy to mint digital coins

According to local media reports, regulated companies that mine cryptocurrency in Iran will receive green energy. Tehran’s Ministry of Energy has passed new rules that allow factories that use renewable energy to generate electricity to supply electricity to coin minting companies that operate in accordance with the law.

“Legal miners can reach agreements with renewable energy power plants on negotiable terms and rates,” said Mohammad Khodadadi, the project leader Tabanil The department in charge of the mining industry told the ISNA news agency. He also emphasized that the Ministry of Energy will play a role in determining the exact tariffs.

Iran’s power generation, distribution and transmission company Tavanir is the country’s state-owned utility company. Order Authorize miners to unplug their equipment. As energy demand increases as temperatures drop, this measure is part of an effort to prevent power outages.

Tavanir spokesperson Mostafa Rajabi Mashhadi recently told state broadcaster IRIB that the Ministry of Energy has been working hard to reduce the use of liquid fuels for power generation since last month. The closure of licensed crypto farms is one of a series of measures aimed at avoiding power shortages this winter.

Iran legalized Bitcoin mining in 2019 and introduced a licensing system for entities engaged in the industry. Registered crypto farms are buying electricity at a higher export rate, and many Iranian miners are avoiding mandatory registration to take advantage of subsidized household prices.

In May, then President Hassan Rouhani (Hassan Rouhani) Announce Due to the extremely hot weather and drought leading to increasing demand for electricity and insufficient supply, cryptocurrency mining is temporarily banned. Authorized mining companies have also been blamed on shortages.

It is estimated that legal miners consume only about 300 megawatts of electricity per day, while underground crypto farms burn more than 10 times that, and the country’s crypto community has criticized these restrictions.The ban is lift In September, as the weather turned cooler, electricity demand declined.

Tavanir has been cracking down on illegal mining operations throughout the year.Iranian media revealed in November that the utility company has confiscated more than 220,000 mining machines and Turn off Nearly 6,000 crypto farms in different regions of the Islamic Republic.

Do you think Iran’s crypto mining union accepts the government’s proposal to use renewable energy? Share your thoughts on this topic in the comments section below.

Lubomir Tasef

Lubomir Tassev is a tech-savvy journalist from Eastern Europe. He likes Hitchens’ famous quote: “Being a writer is my nature, not what I do.” In addition to encryption, blockchain and financial technology, international politics and economics Are the other two sources of inspiration.