Iran's largest bitcoin farm
It turned out that the Iranian government has given a new business license to foreign bitcoin mining companies.
According to local media PressTV, the mining operator "iMiner" registered in Turkey has been granted permission to establish a bitcoin mining business in Iran by the Iran Ministry of Industry, Mines and Trade. It is reported that it will be "the largest bitcoin farm in Iran".
With a total investment of US $ 7.3 million , a mining facility constructed in Semnan, central Iran, will have 6000 mining equipment installed and will mine bitcoins at a hash rate of 96,000 TH / sec. Say.
As the half-life of Bitcoin, which will significantly change mining profits, is approaching, it seems that there are active movements in the global mining industry to complete investment in advance and prepare for the management system after the half-life.
According to iMinier's website, the company, which has seven years of experience in mining operations, has a mining equipment rental business in Turkey, Russia, the United States and Canada.
Iran Mining Circumstances
The Iranian government made a decision at the end of July last year to legalize the mining of Crypto currencies. Mining operations can be performed by receiving registration approval from the Ministry of Industry, Mines and Trade. Earlier this year, it was reported that over 1,000 miners have licensed.
The 6th largest oil producing country in the world, and because the electricity cost that greatly affects the mining operation cost is cheaper than other countries , Iran has a favorable environment for miners. Attention has been paid. There are also reports from Chinese miners that they have been consulted to establish a mining farm in Iran.
Local media reported earlier that mining seemed to have flourished already before the registration system and that thousands of illegal mining equipment were seized by the Iranian authorities from closed factories.
However, since mining also imposes a load on the country's stable power supply, regulations have been established that prohibit mining during peak power consumption, which is said to be 300 hours per year. In addition, the bounty will be given by reporting illegal mining, such as using the electric power which received the subsidy of the country.
In addition, the Iranian National Tax Service says that the income of mining operations generated overseas is subject to tax exemption conditionally.
CryptoCurrency trading is prohibited
While mining is recognized as an industry, cryptocurrency trading is totally banned in Iran.
According to the Iran Chamber of Commerce, Industries, Mines and Agriculture, a government economic commission approved crypto mining on Sunday, with the government now looking for ways to regulate this activity within its existing legal structure