Iranian power plants have been given a green light to mine Bitcoin by the country's authorities.
However, one of the requirements they must meet in order to be allowed to mine Bitcoin is that they do not use subsidized fuel.
According to statements made by Mostafa Rajabi Mashhadi, deputy managing director of Tavanir, Iran's Power Generation, Transmission and Distribution Management Company, to the Islamic Republic News Agency (IRNA) on July 27, the country's power plants will be able to operate as Bitcoin mines "if they comply with the approved tariffs" and have the necessary licenses.
He has stressed out that plants wishing to mine Bitcoin will not be able to use any subsidized fuel. Due to the current situation, "the supply of electricity is of great importance to the public. We will not allow anyone to misuse tariffs provided for the agricultural and industrial sectors to produce Bitcoin while it’s worth more than $9,000."
The price of electricity is very low in the country compared to the rest of the world.
Iran is carrying out a campaign against illegal crypto mines. Anyone who reports one can receive a reward of up to 100 million rials ($2,375).
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