Iran is preparing to lift sanctions on cryptocurrency mines in response to power shortages this summer.

According to Iranian media, the country's power utility says the ban on authorized miners will be lifted early next month.

Licensed Miners in Iran Restart Bitcoin Minting

The temporary ban on crypto mines, introduced earlier this year by the Iranian Ministry of Industries, Mining and Trade, will be lifted on September 22, reports the daily English Tribune newspaper. A very important announcement was made by Iran Power Generation, Distribution and Transmission Company,Tawneer in



 the hope that electricity costs in the Islamic Republic would be reduced end of the summer, state spokesman Mustafa Rajabi Mashhadi told ISNA. news company. Decreased electricity demand as temperatures begin to decline will create conditions for the official re-launch of digital currency miners, it notes.


Restrictive measures were announced in May, by then-Iranian President Hassan Rouhani, at a time when increasing power shortages were causing power outages in many parts of the country. The monetary policy was blamed for the shortfall.


When unusually hot weather leads to a sharp increase in consumption, Iranian regulators initially said licensed miners would be shut down during peak hours. Finally, the government has decided to close the mining law until the end of the summer.


Tavanir Seizes Over 200,000 Illegal Mining Rigs in 12 Months


The suspension of authorized ears has caused severe frustration and criticism from the local corrupt community.It is estimated that the registered mining business is only about 300 megawatts (MW) used when illegal miners burn up to 3,000 MW per day, which is part of what the capital Tehran needs.



Iran saw cryptocurrency mining as an official industrial activity in July 2019. And the mining business had to get a license from the ministry of industry and pay for the electricity used at export prices. The department has issued a mining license to 30 companies according to its website.


As of April, when the Department of Energy was reviewing its regulations, miners were charged 16,574 beats ($ 0.39) per hour, four times the original amount. However, tariffs are reduced when domestic consumption is low and grid is not stressed and respectively, doubled in times of power shortages.


Meanwhile, Iranian authorities followed unregistered miners, insisting that they not only used excessive energy but also damaged the electricity grid. Tavanir began to uncover and cut through illegal mining farms. The company seized more than 212,000 mining equipment units last year in search of 180 trillion damage (more than $ 4 million).