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Iran crypto miners to resume their operation from September 22

The ban on Iran crypto miners (imposed by the Ministry of Industries, Mining, and Trade) will be lifted on September 22, according to the power company of Iran, Tavanir. The power consumption will decline by the end of summer and legal crypto miners will resume their operation.

The miners play a vital role in the crypto market and due to this, the security of the cryptocurrency is assured. Recently, mining operations came into the sight of governments and they started imposing a ban. China was the number 1 miner in the world and they almost shut down all of the mining operations. Iran crypto miners also faced these bans.

Iran crypto miners
Source: Cambridge Center for Alternative Finance

Reason of banning Iran crypto miners

Hassan Rouhani, former supreme leader of Iran imposed a ban to avoid power blackout in the summer and to normal the increasing frustration due to power shortages in the masses. The licenses issued from the Ministry of Industry were 30. The unlicensed crypto miners were consuming 2000-3000 MW daily.

The unlicensed miners were the main reason for the ban on the Iran crypto miners. According to the Tavanir 212,313 mining rigs were seized in the last 12 months which were seized from the unlicensed miners. 180 trillion rials was the damaged caused buy these unlicensed miners to the Iran.

For one kilowatt-hour of energy the terrify was set 16,574 rials for the crypto miners. The terrif is cut to half in case of the less load on power grid. This terrif by the government is four times the previous terrif of 4800 per kilowatt-hour.

It’s good news for the Iran crypto miners and hopefully they will resume their operations and provide the security to the cryptocurrencies and make it more secure and reliable.

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About mnmansha

MN Mansha is a cryptocurrency expert, trader, and content writer with extensive experience in covering everything related to digital assets — from price analysis to Blockchain disruption. Mansha authored 100+ stories for NewsBSC.com and other fintech media outlets and he's actively writing more every day. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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