In July 2019, Iran became one of the first countries to recognize and license cryptocurrency mining as a legitimate industry. All cryptocurrency miners had to register with authorities by August 2020. Sources claim that these illegal operators allegedly used nearly 250 megawatts of electricity since late 2019.
The spokesman for Tavanir, Mostafa Rajabi Mashhadi, claimed that the company would take strict disciplinary measures with unauthorized miners. He also threatened that their mining locations would get disconnected from the national grid.
Iran is the third-largest crude oil-producing country under the Organization of Petroleum Exporting Countries(OPEC). However, the country still struggles economically because of its tense relationship with the western world.
Only one firm, named iMiner has registered for a Bitcoin Mining License from the country’s Ministry of Industry, Mine and Trade. This is an indication that the criteria for registration may be too high for small scale miners.
