Iran has enacted a new law on Bitcoin Mining with the rise in energy consumption in the country. With the enacted law, Bitcoin Mining operations in Iran will be subject to special pricing.
In countries such as Iran, where electricity consumption costs are low, Bitcoin is using mining at serious rates. According to the statements, establishing such a mining system in Iran costs an average of $ 3,217. Realizing that Bitcoin mining is rampant in the country, the Iranian administration is now on the verge of making a very critical decision.
Iran’s Ministry of Energy spokesman Mostafa Rajabi said that Iran’s total electricity consumption increased by 7 percent due to Bitcoin Mining and that this increase affected the country’s network, and other customers were affected negatively in this context. Immediately after this announcement, the Iranian Parliament took action on the subject. After that, Elyas Hazrati, Chairman of the Economic Committee of the Iranian Parliament, said:
“In order for the cryptocurrencies industry in Iran to benefit from tax and customs revenues, we think that the industry in question should be recognized as an official industry in Iran.”
Abdolnased Hemmati, Governor of the Central Bank of Iran, made a statement on the issue and announced that the Iranian Parliament has completed the legal arrangements for crypto-money mining and that this issue has been enacted. According to the Iranian Energy Ministry, electricity consumption rates will be created for people doing crypto-money mining and pricing will be made within this scope.