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

TMS Network (TMSN): The Unstoppable Wave Overwhelming Arbitrum (ARB) And XRP (XRP) in 2023

Crypto investment has seen a surge in 2023 as new players overwhelm renowned players with…

2 hours ago

With Sparklo (SPRK) To Higher ROI Than XRP (XRP) and Terra Classic (LUNC)

The broader cryptocurrency market has been sluggish for the last few days. Among the top…

4 hours ago

Leading Crypto Activist Explains What Crypto Communities With Grow The fastest After SEC Targets Coinbase and Binance

The recent developments in the cryptocurrency world have undoubtedly sent ripples throughout the entire ecosystem.…

4 hours ago

Kucoin (KCS) and Polkadot (DOT) Enters The Bear Market, While Sparklo (SPRK) Gains More Investors

To stay afloat and maintain its lead over other popular coins, Sparklo has introduced a…

1 day ago

NiFTiesLab Corp Breaks New Ground with HSAC Token: Championing the Attention Economy on Bitcoin’s BRC20 Protocol Amidst Regulatory Uncertainty

Road Town, British Virgin Islands – Hold onto your hats! NiFTiesLab Corp is rewriting the…

1 day ago

TMS Network (TMSN) Revealed as Shocking Crypto Challenging Arbitrum (ARB) and Polkadot (DOT)

The world of crypto sees its share of innovations, with newer platforms and tokens arising…

1 day ago