Iranian trade ministry issues 30 crypto mining licenses

Iran’s Ministry of Industries, Mining and Trade issued operation licenses for 30 crypto mining centers in the country, the country’s Financial Tribue reported last Wednesday.

Citing data from the ministry’s website, the report says that Iran’s Semnan province received the largest amount of licenses, with six crypto mining farms now authorized to operate in the region. Alborz province has secured four such licenses, followed by Mazandaran, East Azarbaijan and Zanjan provinces. Tehran province, which houses the country’s capital, reportedly received only one license for operating a crypto mining center.

The ministry has also issued 2,579 establishment permits for new industrial crypto mining units across the country, with 305 of those secured by Zanjan province. Fars province and West Azerbaijan follow Zanjan with 262 and 247 permits, respectively.

According to the report, an operation license is mandatory for Iranian companies to start a legal crypto mining business. Eligible applicants should acquire establishment permits and set up their industrial unit within 12 months and then apply for the operation license.

The report notes that cryptocurrency mining is legal in Iran as miners are allowed to operate under rules approved by the government in July 2019. Despite the legal status of crypto mining in Iran, the government is actively fighting illegal crypto miners due to increasing pressure on the national power grid. According to the report, authorized crypto mining companies are required to pay much higher energy costs for mining cryptocurrencies like Bitcoin (BTC) than residential or other commercial customers.

The ministry did not immediately respond to Cointelegraph’s request for comment.

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