Bitcoin News and Finance
Iran Allows Renewable Power Plants to Supply Crypto Miners With Electricity Skip to main content

Iran Allows Renewable Power Plants to Supply Crypto Miners With Electricity

Iran Allows Renewable Power Plants to Supply Crypto Miners With Electricity

Authorities in Iran have decided to permit power generation plants using renewable sources to sell electricity to licensed cryptocurrency miners. The move comes after the government asked mining companies to suspend activities in order to avoid winter blackouts.

Crypto Miners in Iran to Mint Digital Coins Using Renewable Energy

Regulated companies mining cryptocurrency in Iran will gain access to green energy, local media reported. The Ministry of Energy in Tehran has adopted new rules allowing plants generating electricity from renewable sources to supply coin minting enterprises that operate within the law.

“Legal miners can enter into agreements with renewable power plants at negotiable terms and rates,” Mohammad Khodadadi, who heads the Tavanir department responsible for the mining industry, told the ISNA news agency. He also emphasized that the energy ministry will play a role in establishing the exact tariffs.

Tavanir, the Iran Power Generation, Distribution and Transmission Company, is the country’s state-owned utility that recently ordered authorized miners to unplug their equipment. The measure is part of efforts to prevent blackouts as energy demand increases with dropping temperatures.

The Ministry of Energy has been trying to reduce the use of liquid fuels for generation since last month, Tavanir’s spokesman Mostafa Rajabi Mashhadi recently told the state-run broadcaster IRIB. Shutting down licensed crypto farms is among a range of measures aimed at avoiding electricity shortages this winter.

Iran legalized bitcoin mining in 2019 and introduced a licensing regime for entities operating in the industry. Registered crypto farms are buying electricity at higher, export rates and many Iranian miners are avoiding the mandatory registration to take advantage of subsidized household prices.

In May, then-President Hassan Rouhani announced a temporary ban on crypto mining amid growing demand for electricity and insufficient supply caused by the extraordinarily hot weather and droughts. Authorized mining enterprises were also blamed for the shortages.

The country’s crypto community criticized the restrictions after estimates indicated that legal miners consume only around 300 megawatts daily, while underground crypto farms burn 10 times more. The ban was lifted in September when demand for electricity decreased with cooler weather.

Tavanir has been cracking down on illegal mining operations throughout the year. Iranian media revealed in November that the utility had confiscated over 220,000 mining machines and shut down almost 6,000 crypto farms in different regions of the Islamic Republic.

Do you think Iranian crypto miners will accept the government’s offer to use renewable energy? Share your thoughts on the subject in the comments section below.

Labels:

Comments

Post a Comment

Popular posts from this blog

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl
Post a Comment
Read more

Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors

Last week, the game token leveraged within the Axie Infinity gaming universe skyrocketed to all-time highs, while other crypto markets remained extremely lackluster. During the last seven days, Axie Infinity’s platform token has dropped significantly in value shedding more than 12%. Meanwhile, the game platform’s smooth love potion token has slid over 8% over the last 24 hours. Axie Infinity Down More Than 40% Since All-Time High Not too long ago, the axie infinity (AXS) token was a topical conversation because it reached an all-time high on July 15. At the time, AXS managed to capture $28.93 per unit and since then it has shed 12.8% during the last seven days. The axie infinity (AXS) token is used within the blockchain-based game that involves battles between token-based creatures called “Axies.” AXS is used for the game’s governance system as well as other actions within the game. At the time of writing axie infinity (AXS) is exchanging hands for $16.70 per coin. AXS/USD on Ju
Post a Comment
Read more

Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

The Play-to-Earn NFT based Polker.Game ‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league. Watch Akon’s Video Here What is Play-to-Earn? Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved. Play-to-Earn games are essentially free to play and open to anyone and
Post a Comment
Read more

China to Crack Down on Copyright Infringement Through NFTs

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r
Post a Comment
Read more
Blogarama - Blog Directory