RATE Group | Iran Issues License for Nation’s Biggest Bitcoin Mining Operation
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Iran Issues License for Nation’s Biggest Bitcoin Mining Operation

05 May Iran Issues License for Nation’s Biggest Bitcoin Mining Operation

Posted at 10:48h in Bitcoin News by

iMiner, a Turkey-based company, has been granted a license to mine cryptocurrencies in Iran.

Local news source Tabnak news reported on April 28 that iMiner has the green light from the nation’s Ministry of Industry, Mine and Trade to operate up to 6,000 mining rigs in the city of Semnan.

The mining company has so far spent 311 billion rials ($7.3 million) on setting up the biggest mining operation in the country to date.

The ministry has also allowed the firm to begin offering cryptocurrency trading and custody from within the country, as per the report.

According to iMiner’s website, the company is the “first and largest bitcoin mining and extraction system in Iran” currently with 2,000 mining machines already hosted on its local site, with additional operations in Russia, Canada, Turkey and the U.S.

It comes at a time when interest for bitcoin mining is building and low subsidized Iranian power rates attract investment from countries like China and France as well as an increasing…

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