Bitcoin mining is now legal in Iran

  • Iran lifted a ban on bitcoin mining in May and licensed farms could return online.
  • High toll temperatures and air conditioners wanted to limit the use of electricity in the country’s power grid during the three months of summer.
  • Iran’s cheap electricity attracts bitcoin miners, who set up shop there to increase profits.

Iranian bitcoin miners have been given the green light to return their rigs online, Iran International Reportedly since the beginning of summer, mining activities have been shut down due to concerns that the country’s power grid will not be able to handle extreme heat months. Only licensed farms are allowed to return online.

In May, former Iranian President Hassan Rouhani announced a ban on bitcoin mining that would last until the end of September in an effort to limit the use of energy by mining farms. At the time, Rouhani said the miners, who had state permission to run their businesses, used only megawatts (megawatts) of electricity, while unauthorized miners used 2,000 megawatts.

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