Media: Iran lifts restrictions on cryptocurrency mining

Authorities in Iran have lifted the ban on cryptocurrency mining and allowed licensed miners to resume operations, according to Iran International.

NEW: #Iran has permitted licensed cryptocurrency mining machines to resume operations after a three-month lull ordered by former President Hassan Rouhani.https://t.co/8jewQuVFXx

— Iran International English (@IranIntl_En) September 30, 2021

In late May Iran imposed restrictions on mining due to electricity shortages caused by rising consumption in other sectors and dry weather. On some days, air temperatures across the country exceeded 50°C.

Middle East and Central Asia are under the harshest heat wave in history for this time of the year. In #Iran 51.0C at Omidieh,50.1C at Abadan,45.5C at Bam (920m asl). In Turkmenistan 46.7C Uchadzhi,in Uzbekistan 44.7C at Termez,in Tajikistan 43.7C at Isambaj (563m). pic.twitter.com/AQ5bpt93vM

— Extreme Temperatures Around The World (@extremetemps) June 5, 2021

The channel did not rule out that in winter Iran would again temporarily ban cryptocurrency mining “due to electricity shortages arising from a lack of investment in the sector.”

According to Elliptic, Iran accounts for 4.5% of all Bitcoin mining. Digital assets allow the country to bypass sanctions and purchase imported goods.

Earlier, the Iranian Ministry of Industry issued 30 licenses to companies involved in cryptocurrency mining.

In January, authorities shut down 1,620 illegal mining centers, which together consumed 250 MW of power.

In May, Reuters sources reported the seizure of 7,000 mining devices at an abandoned factory in western Tehran.

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