Iranian Deputy Energy Minister Says Miners Should not Receive Discounts on Their Electricity Bill
Main page News, Bitcoin, Iran, Mining

Iran's deputy energy minister, Homayoun Haeri, said yesterday that crypto miners should not receive any subsidy to pay for the energy they consume to carry out their mining activities, local newspaper Financial Tribune reported yesterday.

The government spends around $1B every year in subsidies to cover the breach between the real price of electricity and what consumers actually pay.

As a result, it appears that some consumers, including bitcoin miners, are taking advantage of the low cost of electricity in the country to profit from bitcoin's mining.

For this reason, these users would reportedly no longer receive any discount on their electricity bill so that they pay for its real price.

The sanctions imposed by the U.S. on the country have made crypto mining more attractive as users look for alternatives to fiat money.

Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.

Read also:
Please describe the error