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Iran's Ministry of Industry Issues 30 Licenses to Crypto Mining Farms

Tehran's province, which houses the country's capital and center of political power, has received only one license.

Jun 28, 2021 at 1:46 a.m. UTC
Updated Sep 14, 2021 at 1:17 p.m. UTC

In spite of a blanket ban resulting from power shortages caused by a lack of rain, Iran's Ministry of Industry, Mine and Trade has exempted a number of crypto mining farms across the country.

According to a report by the Financial Tribune on Wednesday, the ministry has granted permission for 30 crypto mining farms to operate after issuing licenses.

Six licenses have been doled out in the Semnan province while the province of Alborz, which sits just outside the country's capital, received four. Also receiving four licenses were the provinces of Mazandaran, East Azarbaijan and Zanjan.

Tehran province, which houses the country's capital and center of political power, has received only one license for a mining operation there.

In May, the country's president, Hassan Rouhani, said crypto mining operations had to cease until Sept. 22 resulting from the load they place on the national power grid because of an exceptionally hot summer.

Also in May, the Central Bank of Iran moved to ban the trading of certain crypto considered mined outside the country attempting to stymie capital flight outside of its borders.

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