Jul 11, 2019
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Iranian Government Plans to Authorise Cryptocurrency Mining

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Abdol Nasser Hemmati, the governor of the Central Bank of Iran (CBI), announced yesterday that the government plans to authorise the mining of digital assets in the nation. However, those running computer systems to profit from their support of cryptocurrency networks will be charged for electricity at the country’s export price rather than the cheaper, subsidised rate.

Iran has reportedly become quite the hot spot for Bitcoin mining in recent months, thanks largely to its generous electricity subsidy. There are even reports of Chinese cryptocurrency miners relocating to the country to take advantage of the cheap rates.

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