RATE Group | Iran Licenses $7.3 Million Bitcoin Mining Enterprise, Move Aimed at Easing U.S. Sanction…
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Iran Licenses $7.3 Million Bitcoin Mining Enterprise, Move Aimed at Easing U.S. Sanction…

05 May Iran Licenses $7.3 Million Bitcoin Mining Enterprise, Move Aimed at Easing U.S. Sanction…

Posted at 00:35h in Bitcoin News by

Iran Licenses $7.3 Million Bitcoin Mining Enterprise, Move Aimed at Easing U.S. Sanctions

Iran has issued a bitcoin mining license to Iminer, a Turkish-based company. Iminer will operate up to 6,000 rigs, with a computing power of 96,000 terahash per second (TH/s) in total.

According to media reports, the miner has spent $7.3 million setting up the mining facility, located in Iran’s central city of Semnan. It is the biggest mining farm in Iran, say reports, as the country seeks to leverage bitcoin to ease the impact of U.S economic sanctions.

The license granted by Iran’s Ministry of Industry, Mine and Trade has also allowed Iminer to offer trading and custody services in the Middle East country.

The 7-year old Turkish company considers itself experienced “in bitcoin mining and investing in the mining sector,” as per its website. Operating the Aladdin range of cryptocurrency mining machines, Iminer claims to have operations spanning five countries – Turkey, Russia, the U.S, Canada, and Iran – and over 300 staff.

Miners from as far afield as Ukraine and China…

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