The Iranian Ministry of Industry, Mining and Trade granted the cryptocurrency mining company iMiner a license to operate in the country. With 6,000 rigs, the iMiner setup would be one of the largest cryptocurrency companies in Iran.
According to an article published on April 29 The Turkey-based company has invested nearly $ 7.3 million in a Bitcoin (BTC) mine farm in the Iranian province of Semnan, where it has 6,000 drilling rigs with a total capacity of 96,000 terahashes per second (TH / s). will degrade.. This corresponds to an average of 16 TH / s per drill, just like the Aladdin Miner listed on the company’s website.
Also iMiner will continue to provide trading and custody services to the Middle East through Semnan and its offices in Tehran.
Cryptocurrency depletion in the Iranian economy
The Iranian government approved the mining of cryptocurrencies as an industrial activity in July 2019 and has since issued more than 1,000 licenses to companies Cryptocurrency mining, including iMiner. The country’s low energy prices make it attractive to minerswho are known for their high electricity bills.
The Iranian economy is suffering from both the ongoing pandemic and the sanctions imposed by the United States and other western countries. Some military officials have suggested using digital currencies to facilitate trading while importing foreign currency and bypassing these sanctions.
However The pursuit of innovative technology has led to the smuggling of unregistered cryptocurrency mining devices. As Cointelegraph reported in November 2019, the Iranian authorities They offered a reward to those who were willing to uncover unauthorized mining operations.