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Bitcoin Miners Can Resume Mining Activities In Iran

In a welcome move for Bitcoin miners, Iran is mulling lifting the ban on Bitcoin mining in Iran. According to an official announcement, Miners in the country will be able to get back to mining as the electricity preservation policy program ends after the hot summer. 

It is expected that miners will be able to resume business from the last week of September. The country’s Financial Tribune, Tavanir, the country’s power generation organization, has already confirmed the decision. 

Iran had put a blanket ban on Bitcoin mining activities in May, almost around the same time when China took a U-turn on its Bitcoin mining policy and started cracking down on BTC mining activities. However, unlike China Iran had kept the ban as a temporary measure to prevent the electricity grids from being overburdened during the summer months. 

There have been mixed reactions to Iran’s mining policy. While some have welcomed the move others are still wary of the ill impacts of mining BTC because of high energy consumption. Moreover, illegal mining is rampant in the country, particularly in Tehran where police have seized thousands of illegal Bitcoin mining rigs in the past months following the ban. 

Iran has been popular with Bitcoin miners. The country legalized Bitcoin mining back in January 2020 and had granted over 1000 BTC mining licenses to several operators.

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