Iran’s Ministry of Trade issues 30 crypto mining licenses

Iran’s Ministry of Industry, Mines and Trade has issued operating licenses for 30 crypto mining centers in the country, the country’s financial forum Report last Wednesday.

The report cited data from the Ministry’s website as saying that Iran’s Semnan Province has obtained the largest number of licenses, and currently six crypto mining farms are authorized to operate in the region. Alberta has obtained four such permits, followed by Mazandaran, East Azerbaijan and Zanjan. According to reports, Tehran Province, where the country’s capital is located, has only obtained a license to operate an encrypted mining center.

The Ministry has also issued 2,579 establishment licenses for new industrial encryption mining units across the country, of which 305 are guaranteed by Zanjan Province. Fars Province and West Azerbaijan followed Zanjan with 262 and 247 permits respectively.

According to the report, Iranian companies must obtain operating licenses to carry out legal crypto mining operations. Eligible applicants should obtain an establishment permit and set up an industrial unit within 12 months, and then apply for an operating permit.

The report stated that cryptocurrency mining is legal in Iran because miners are allowed to Government approved rules July 2019. Although cryptocurrency mining has a legal status in Iran, the government is actively cracking down on illegal cryptocurrency miners due to increasing pressure on the State Grid. According to the report, authorized crypto mining companies need to pay higher energy costs to mine cryptocurrencies such as Bitcoin (Bitcoin) Instead of residential or other commercial customers.

The ministry did not immediately respond to Cointelegraph’s request for comment.

related: Iran’s annual Bitcoin mining revenue may exceed 1 billion U.S. dollars

The news was announced at the end of May by Iranian President Hassan Rouhani A total ban on Bitcoin mining In the country until September as a measure to relieve the pressure on the national power grid.Subsequently, the Iranian Province The police confiscated more than 7,000 mining machines A farm operated in the capital of Tehran last Tuesday. Encrypted mines are considered to be the largest and most important consumption of energy use in the country.

According to data from Iran’s power generation, distribution and transmission companies, more than 188,000 encrypted mining equipment have been seized in the past 12 months. According to reports, these devices caused 180 trillion riyals (US$4.2 billion) in losses to the national grid and power distribution equipment.