The authorities allowed the industrial power plants to extract cryptocurrency legally, but without the possibility of using subsidies.

The Deputy Managing Iranian Electricity Companies Tavanir Mostafa Rajabi Mashkhadi said that even if there was a necessary license, the power plants can be engaged only on the approved state tariffs for electricity. Energy enterprises will not be able to count on any additional benefits and subsidies.

According to him, now the supply of electricity is of great importance for the population and the authorities cannot allow the use of lower tariffs intended for agriculture and industry for bitcoin mining.

According to Iran’s official news agency, 14 major mining farms consume as much energy as the three provinces of the country. At the same time, the authorities have already reported issuing 1,000 licenses for the organization of cryptocurrency mining business.

Due to lowest electricity prices for many Iranian entrepreneurs, there is a temptation to use the tariffs with the subsidies for secret mining. To combat illegal mining, they announced that they would pay citizens a remuneration of $ 2380 for exposing such a business.

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