By Nathan Ferguson
After hard days of the crypto industry, the Iranian government seems to be softening its rules and regulations related to cryptocurrency mining farms after reportedly, Iranian government officials have been approving and issuing the legal order for cryptocurrency mining farms in Iran.
In a report by Financial Tribune, an outlet for Iranian Business, it was disclosed that the Ministry of Trade and Industries in Iran has initiated allowing the operations for cryptocurrency mining as recently state seem to be softening its rules and regulation for mining farms as till now Iranian government has approved operations of approximately 30 cryptocurrency mining farms throughout the country. According to the designated plan, the mining united implanted in Province Semnan will be hosting six (06) farms, and Alborz Province is having currently four (04) crypto mining units. Along with the aforementioned provinces of Iran, few other regions, including Zanjan, East Azerbaijan, and Mazandaran Province, are going to host the mining units in Iran. Moreover, Tehran, the capital Province of Iran, is also planning to operate one crypto mining unit as well.
More importantly, the Iranian government has provided more than 2,575 establishment permits dedicated to cryptocurrency mining entities. Till now, Zanjan Province has accounted for almost 305 permits, and Fars Province is counting on 262 permits while West Azerbaijan is following the flow with 247 permits.
Iran’s Ban on Bitcoin
The authorization for the cryptocurrency mining firm was being disclosed in the market after the week following the restriction of more than 7,000 crypto mining machines being exposed in Tehran. It followed the weeks of May when Bitcoin (BTC) became the controversial topic of causing fuel consumption due to Bitcoin mining that sought the attention of crypto concerns. With the correlation to China’s ban over cryptocurrency, Iran looked for the prevailing power outages in the country and hence took the necessary aforementioned steps related to the ban and authorizations related to cryptocurrency mining farms.
As the crypto market of China witnessed the hostility, other discretion of the United States (US) is also evidence of the scenario of welcoming the crypto miners to host in the state. More interestingly, Francis Suarez, the Miami Mayor, is putting all his efforts into minimizing the energy rates in order to entertain the Bitcoin (BTC) miners who are looking for possible and convenient mining ways at a lower cost.
Miami is currently trending as the hub of cryptocurrencies working on the clean and lower energy for Bitcoin (BTC) mining in the United States.