Iranian block reward miners will now have access to electricity from three of the country’s biggest power plants. In July, the Iranian government had issued a directive that allowed the country’s power plants to get involved in block reward mining. Iran’s Thermal Power Plant Holding Company (TPPH) has announced that it will be offering power to block reward miners from three of its power plants. TPPH’s managing director Mohsen Tarztalab revealed that the company is ready to accept mining firms’ bids.
The necessary equipment has been installed in three power plants.
According to the Tehran Times report, “the necessary equipment has been installed in three power plants of Ramin, Neka, and Shahid Montazeri, and the auction documents will be uploaded on the SetadIran.ir website in the near future. The power plants will only sell power generated from expansion turbines to the miners, Tarztalab revealed. These turbines operate on clean energy, such as natural gas. The use of these turbines will also ensure that the crypto miners don’t interrupt the national grid as the turbines “are not connected to the national grid, and the power plant itself only uses the electricity generated by them.”
The crypto mining industry grows in Iran.
This is the latest nod for the crypto mining industry in Iran, a sector that has been on a steady rise for the past two years. Initially, the government was not clear, raising concerns over high power use. In July 2019, the authorities had seized over 1,000 mining rigs over alleged high power use while also banning several block reward mining operations in the country. The stance has shifted since then, as the government recognized the economic gains the country can make from digital currency mining. TPPH’s head confirmed that the economic incentive was the main reason the company is venturing into crypto mining.