In late July, the government of Iran approved cryptocurrency mining as an industrial activity and announced that cryptocurrency miners should acquire necessary licenses from Industry, Mining, and Trade Ministry.  Recently, Iran government announced a new electricity tariff for cryptocurrency mining operations. According to the new guideline, mining digital currency is banned during peak hours, which usually extends over 300 hours in the four months of high electricity consumption across Iran mostly due to the warm weather.

The rates of electricity for mining is issued by the government in Nov 2019. During non-peak hours of these four months, miners can continue their operations and will be charged $0.16 per kWh for each kWh consumed. For the remaining cold 8 months of the year, around $0.04 per kWh will be charged to miners.

Additionally, the government has offered an incentive to those who would set up their own power plants for mining digital currencies, adding if a failure occurs to generate electricity from renewable sources, the government would back-up these plants; taking into consideration that the government will also offer various bounties in different sections of this field.

Share This