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Tavanir, the governmental agency in charge of power generation and distribution in Iran has revealed that crypto mining operations will be allowed from September 22. The Iran Power Generation, Distribution, and Transmission Company (Tavanir) mentioned that the power consumption strain will calm by then, and miners could thus resume their operations.
Tavanir Iran Shows Green Flag to Crypto Mining Operations
As revealed, under the directions of former President Hassan Rouhani, the Ministry of Industries, Mining, and Trade, lifted the prohibition on the crypto mining industry which was earlier set up to ease power consumption.
The Financial Tribune reported the development and revealed that the mining industry had been putting a strain on the power grid of the country. However, it did note that the power consumed by legal miners was just a fraction of the total amount.
In addition to this, it was revealed that the miners who do not have licenses, reportedly consume over 2-3k MW per day which is almost equivalent to half of the daily consumption of the entire city of Tehran.
It should be noted that the government is not totally against cryptocurrency as back in the month of June, it introduced a legit framework to regulate the market and even legalized crypto mining back in the year 2019.
Mining Industry in Oblivion
The fact that the mining industry is going through a hard phase can not be ignored as the governments have turned their attention to miners as they mull over a large regulatory framework.
China, among all the countries striking on crypto mining, has been the most prominent player as it implemented a crackdown on the mining industry and was a hotbed for mining activity.
Well, the mining industry is still giving decent performances as many investing capital retail firms are investing in mining firms.