show
show
Witnessing the digital breakthrough

Iran Builds Largest Mining Farm

06 May 2020 16:20, UTC
Iran Builds Largest Mining Farm
By Anna Martynova

Turkish mining company iMiner, which is operating in the industry for more than 7 years, has announced that it has received a license for crypto mining in Iran. It is currently the largest mining farm in the area. Thanks to an investment of $7 mln, 6000 machines with a capacity of 96,000 TH/s are already located in the central city of Semnan.

20.09.2019  |   in Legislation
It is known that the company worked for several years in different jurisdictions, including Turkey, Russia, the USA, and Canada. Moreover, iMiner provides rental and hosting services. In Iran, mining is a profitable business due to the very competitive cost of electricity. This is confirmed by 148 thousand crypto mining machines already operating in this territory.

At the beginning of this year, the Iranian government issued over 1000 crypto mining licenses. Such moves of the government are an attempt to attract investors. The U.S. government criticizes the decision to support these initiatives, as cryptocurrencies will help circumvent the sanctions imposed by the USA.

Image courtesy of Coinfortoday



Read the best crypto news analysis here! bitnewstoday.com Bitcoin, investments, regulation and other cryptocurrencies
Found a mistake? Select the text and press CTRL+ENTER
Leave a comment
Leave a comment
Report a mistake