Iran has Over 1,000 Licensed Crypto Mining Operations

Iran may prove to become a very interesting region for all cryptocurrency activities. The government has begun issuing licenses to crypto mining firms, and the overall interest in this business model is picking up.

The licensing model in Iran is worthwhile to keep an eye on.

Crypto Mining is Booming in Iran

Every cryptocurrency mining firm in the country must obtain an official license.

The process for doing so is not complicated, nor overly expensive.

Once a license has been obtained, these companies can begin – or continue – to mine Bitcoin at their own license.

Since determining that Bitcoin mining is an industrial activity in July 2019, things have evolved in an interesting direction.

Related Post

To this date, over 1,000 crypto mining licenses have been granted.

A remarkable figure, given how one would expect most miners to avoid a licensing process altogether.

Despite this growth, there is still reason for hesitation.

If the mining operations put too much strain on the Iranian power grid, the situation can head in a completely different direction very quickly

While mining is booming in Iran, it remains unclear as to how Bitcoin and altcoins are being used.

Some officials still see merit in this form of money to evade sanctions and trading embargoes altogether. 

JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.

Published by
JP Buntinx

Recent Posts

Smart Traders Pile Into $MOG As Token Continues To Break All-Time Highs

In the ever-dynamic world of cryptocurrency, $MOG has been a standout performer, breaking its previous…

51 mins ago

Tether Treasury Mints 1B USDT As Whales Inject 278.7M Into Crypto Market

Yesterday, the Tether Treasury minted another 1 billion USDT on the Tron Network, marking the…

55 mins ago

Real World Assets In DeFi Reach $3.89 Billion TVL, Marking Major Milestone

As of July 2024, the Total Value Locked (TVL) for Real World Assets (RWA) in…

60 mins ago

Ethena Protocol Surges In Stablecoin Supply And User Adoption

The Ethena protocol has experienced impressive growth in 2024, particularly in the supply of its…

1 hour ago

DeFi Blue Chips Poised For Breakout Despite Record Low Valuations

Despite lagging in 2023, DeFi 1.0 assets are now positioned for a significant breakout. DeFi…

1 hour ago

MOONHOP’s Presale Skyrocket | Shiba Shootout Value | Bonk Investors’ Moves

Best Meme Coin Gainer: MOONHOP's Presale Skyrockets, Attracting Bonk Investors While Shiba Shootout’s Value Soars…

7 hours ago