Iran Allows Crypto Mining Again

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Iranian authorities have recently lifted the ban on cryptocurrency mining and allowed licensed miners to resume their operations, Iran International has reported.

At the end of May, Iran imposed restrictions on mining due to power shortages caused by increased consumption in other sectors and dry weather. On some days, the air temperature in the country exceeded 50 °C.

The TV channel did not rule out the country might ban crypto mining again in winter “due to a lack of electricity due to lack of investment in the sector.”

According to Elliptic analysts, Iran accounts for 4.5% of all Bitcoin mining. Digital assets allow a country to bypass sanctions and purchase imported goods.

Earlier, the Iranian Ministry of Industry issued 30 licenses to companies related to cryptocurrency mining.

The country’s authorities closed in January 1,620 illegal mining centers, which in total consumed 250 MW of power.