Iran’s government had recently put a temporary stop to crypto mining within the country due to nationwide blackouts occurring as a result of electricity and power shortages prevalent throughout the country. Now though, it looks as if the government is going to slowly allow crypto mining to continue, as it has reportedly granted licenses to various mining farms for the purposes of resuming operations.
To that end, the nation’s Ministry of Industries & Trade has now permitted 30 crypto mining units to conduct mining operations all over Iran. Many remain hopeful that with Bitcoin (BTC) mining in China effectively finished, other nations can now step up and offer alternative means of mining so that the BTC hash rate is not too adversely impacted for the foreseeable future.
Various regions allowed to have crypto mining
A large portion of the mining units shall be positioned in the Semnan Province. This province shall reportedly be allowed to host six farms, whereas four units will be allocated to the country’s Alborz Province as well. Various other regions will also be hosting the mining units, which include but are not limited to East Azerbaijan, Zanjan, and the Mazandaran provinces. Tehran, the nation’s capital, shall be operating only one mining unit as of this time.
Moreover, the government has additionally provided nearly 2,580 establishment permits for numerous cryptocurrency mining institutions. Three hundred five permits had been given to the Zanjan province, 247 licenses had been granted to West Azerbaijan, and 262 permits were given to the Fars Province. With this allocation, the nation’s government remains hopeful that power shortages can be avoided and the country’s land and resources can be properly utilized in the best possible way without compromising on other key socio-economic structures.
The ban and its after-effects
This development comes only a little over a week removed from the previous decision by the government to ban crypto mining in Iran. Nearly 7,000 mining rigs and related equipment in Tehran alone had been seized as a result of this ban. The ban had been put into effect this past May, and it was mainly due to concerns regarding mining activities consuming an excess amount of energy.
Iran is not the only one who has expressed these concerns either, as China had been the main country to do so as aforementioned. Meanwhile, other locations such as Kazakhstan have been quietly acquiring fleeing BTC miners and crypto pools such as BTC.com as China intensifies its crackdown efforts. Elsewhere, destinations like El Salvador, Texas, and Miami have also become popular destinations due to relaxed rules and regulations surrounding cryptocurrencies.