Iran to offer preferences to cryptocurrency mining centers

Business Materials 12 April 2021 12:14 (UTC +04:00)
Iran to offer preferences to cryptocurrency mining centers

TEHRAN, Iran, Apr.12


The power consumption of crypto currency mining centers in Iran would be connected to the country's domestic mining pools and in addition to electricity discount, the centers would receive another 15-percent discount, said Iranian Energy Ministry's Spokesman for Electricity Industry Mostafa Rajabi Mashhadi, Trend reports citing IRNA.

"About 20-percent discount would be offered on power bills, for consuming 400 and 230 kilowatt electricity while other voltages including 132, 66, 63 kilowatt electricity would receive a 12-percent discount," said Mashhadi.

"According to new regulation, the price of consuming one kilowatt per hour electricity for cryptocurrency centers is equal to 16,000 rials (about 39 cents)," he said.

"The Power Generation and Distribution Company (TAVANIR) would set the tariff based on average power export rate and NIMA foreign currency rate and it would update the price once in three months, and submit its report to the Ministry of Energy," he said.

"The new instruction has divided the year into three timelines including peak crisis, power grid load limit and normal (specific tariff)," he said.

"All the cryptocurrency companies that have launched their activities are obligated to file for operation license from the Ministry of Industry, Mine and Trade," he said.