Business Iran to use electricity from three power plants to...

Iran to use electricity from three power plants to mine Bitcoin

Advertising

Iran is ready to use the energy from three power plants exclusively to mine bitcoins, according to an announcement by the country’s Thermal Power Plant Holding Company (TPPH). According to local news outlet Tehran Times, power plants in Iran receive benefits and subsidies from the government on their fuel supplies, but were prohibited from using the energy they produced to mine cryptocurrency until July. As CriptoPasion reported, in July Iran officially legalized cryptocurrency mining for entities approved for a license from the country’s Ministry of Industry, Mines and Commerce. However, at the time, the country’s government reiterated that cryptocurrency payments were still prohibited. While Iranian power plants will not be able to take advantage of the subsidies to mine crypto assets, TPPH is reportedly looking to enter the crypto mining space. This means that the company will comply with the specific fees established for crypto mining. Mohsen Tarztalab, managing director of the firm, said:

The necessary equipment has been installed at three power plants Ramin, Neka and Shahid Montazeri, and the auction documents will be uploaded to the SetadIran.ir website in the near future.

Tarztalab added that selling electricity to bitcoin miners will create a new source of income for the company. The creation of new stable sources of income has been, according to Tarztalab, one of the goals of Iran’s electricity industry in recent years. In his words, “constant price increases and the obligation to supply electricity with stable prices to subscribers have caused a large gap between income and expenses.” Revenues from bitcoin mining could help fill the gap. The three Iranian power plants will only use their expansion turbines for BTC mining. These are not connected to the national grid. Iran’s adoption of bitcoin, it is worth noting, comes as the country faces poor economic prospects for the future and sanctions from various countries. Featured image via Pixabay.

Advertising

Everything you need to know about Ledger Nano X before buying it

Where to trade Bitcoin with leverage?

Stormgain is the leading cryptocurrency exchange. And to celebrate the great moment that Bitcoin is experiencing, it is offering 25 USDT fully to your new users.
This Exchange is the Official Partner of the Premier League Newcastle team.
And exclusively for users of Cryptopasion, Stormgain is going to give away 25 USDT with the first deposit, which must be a minimum of $ 110.

All you have to do is enter this link, register and make the first deposit of $ 110 or more, to start enjoying cryptocurrency trading with leverage of up to x200.
Promotion code: BONUS25

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Latest news

Covid-19 in Córdoba: record of 46 deaths and there are already 890 in pandemic

The Ministry of Health of Córdoba confirmed this Monday 1,663 new cases of Covid-19, of which 830 correspond to...

Paulo Díaz will start at River Plate against the Quito League for the Copa Libertadores

This Tuesday, River Plate will have a crucial duel for the Copa Libertadores de América. The Millionaire painting...

Demon Slayer Kimetsu no Yaiba: Infinity Train Movie Breaks Box Office Records At Premiere

No doubt Kimetsu no Yaiba (also known as Demon Slayer The Guardians of...

For Javier Ordóñez, Duque sees “with good eyes” the capture of two policemen

Log inProfile settingsSign offto subscribeMonday, October 19, 2020Log inProfile settingsSign offto subscribeLast NewsTV WeekEnterprisePlusGalleriesSpecialsLatest NewsNationCoronavirusOpinionEconomyWorldPeopleCultureTechnologySportsModern Life TV Week...

characteristics, price and technical sheet.

Last August Samsung announced new tablets, specifically the Samsung Galaxy Tab S7 y S7+, but now, in...

You might also likeRELATED
Recommended to you