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Crypto Mining Firm Obtain Regulatory Greenlight From Iran Government to Operate Locally

By Tracy Hannes | May 4, 2020

Crypto mining firm iMiner has reportedly successfully obtained the regulatory green light from the Iranian Ministry of Industry, Mine and Trade, to normally function locally. 

Specifically, the mining establishment form Turkey has made a financial investment equivalent of around $7.3 million into a Bitcoin (BTC) mining facility, located in Iran’s Semnan Province. 

The farm reportedly possessed 6,000 rigs with the power of generating 96,000 terahashes every second (TH/s), for crypto mining – which translates to 16 TH/s for every rig averagely, rivaling the iMiner-developed Aladdin Miner shown on its web page. 

Moreover, iMiner will carry on making trading and custody services available across Iran, via Semnan and their Tehran-headquartered branches. 

Previously, the Iranian authorities have granted the legal recognition of an industrial activity for crypto mining back in July last year, and has since generated more than 1,000 licenses to crypto mining firms, and iMiner is one of that. 

The reduced cost to pay for electricity power across Iran has made the country an ideal ground to develop the crypto mining sector and set up mining equipments – which normally consume a significant amount of energy.

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