Iran supports Bitcoin miners and cryptocurrencies through this new project - FOGWHY

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Friday, October 23, 2020

Iran supports Bitcoin miners and cryptocurrencies through this new project


 

Recently, and through news reports from Iran, the Iranian government has shown increasing support for Bitcoin miners and cryptocurrencies in the country.


Now miners will have access to exploit electricity from three power plants and use them in cryptocurrency mining, with permission from the Holding Company of Iran's Thermal Power Plant (TPPH).


Mining bitcoin and digital currencies, using 3 power plants:

According to a report today from a local Iranian daily newspaper, the country's Thermal Power Plant Holding Company (TPPH) will hold a tender for a bid to offer electricity production to three power stations for the miners of cryptocurrencies.


Mr. Mohsen Tarztalib, President of TPPH, said:


The necessary equipment has been installed at three power stations, “Ramin”, “Naka” and “Shahid Montazeri”. The auction documents will be uploaded to the “SetadIran.ir” website in the near future.


With the Iranian economy affected by the depreciation of the riyal due to the escalation of tension with the United States, "Tarzalab" indicated that the country's electricity industry wants to generate stable sources of income for the population, as he added in his statement:


Unfortunately, persistent price hikes and a commitment to provide subscribers with electricity at fixed rates have created a significant gap between revenues and expenditures in the country's electricity industry.


We need new sources of income to fill this gap.


Selling energy to miners:

The president of TPPH commented that selling electricity production for Bitcoin and cryptocurrencies would be a great source of revenue for the Iranian energy industry.


The Iranian administration that deals with the country's electricity production is in agreement with the new decisions.


He told "Tarzalab" in this regard by saying:


According to the laws and regulations announced by the Cabinet and the Ministry of Energy, we have been allowed to allocate some capacity to our power plants for mining cryptocurrencies.


but there is a problem.


The amount of energy directed at the two minerals will be limited by what the power plant turbines produce.


Because, according to "Tarzalab":


Power generators do not consume liquid fuel, but rather rely on natural gas only.


This makes the entire proposal environmentally friendly.


Support for cryptocurrency mining in Iran continues:

Last January, Iran's Ministry of Industry, Mining and Trade issued more than 1,000 licenses for bitcoin and cryptocurrency mining equipment.


This happened at a time when the country was going through a huge geopolitical clash with the United States of America.


The one that led to an airstrike that killed “Qassem Soleimani,” the commander of the Iranian Quds Force.


Later in July, “Mustafa Rajabi Mashhadi,” a spokesman for the electricity sector at the Ministry of Energy, issued a declaration that Iranian power plants are free to mine cryptocurrencies, provided the associated entities apply to obtain the necessary licenses from the Ministry of Industry and comply with the specific tariffs for cryptocurrency mining. .


It seems and can be concluded that Iran is doing its utmost to defy the sanctions imposed by America on it.

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