Bitcoin (BTC), miners find a new El Dorado!

Bitcoin (BTC), miners find a new El Dorado!

Bitcoin (BTC) miners can now get energy for low-cost mining. In fact, Iran changed its regulations on cryptocurrencies. The new measure aims to make renewable energy more accessible to miners across the country.

Cheap electricity available in Iran for bitcoin mining

According to tweet from the Bitcoin Archive on July 29, bitcoin (BTC) miners now have the option to “buy”electricity at lower prices from renewable sources“. In fact, Iran recently made changes to its regulations on the cryptocurrency industry. Now the country has simplified access to renewable energy for cryptocurrency miners.

Iranian authorities allow licensed miners to get energy at cheaper rates for crypto mining. This new rule is valid throughout the country. Note that previously, mining companies could only get their supplies from renewable power plants located in the same province.

Clarification that the new regulations dictate that miners are no longer required to use the energy production resources of the mining platforms. The positive changes to these regulations in Iran are an initiative of the Ministry of Energy in Tehran.

In addition, Iran faced various power shortages during hot, dry summers and cold winter months. Very energy intensive, bitcoin mining would cause this problem. This is how in 2021, Iran repeatedly ordered crypto companies to stop their energy-intensive activities.

At the same time, the Iranian authorities plan to launch serious measures against unauthorized minors. In fact, they plan to increase the fines for illegal mining activities by 400%. Note that the Iranian government has identified and closed nearly 7,000 illegal mining facilities.

In Iran, legally operating miners now have the option to purchase electricity from renewable sources. They can do this throughout the country, and this, through the national network. At the same time, companies that do illegal mining will be severely punished.

Get a summary of the news in the world of cryptocurrencies by subscribing to our new daily and weekly newsletter service so you don’t miss any of the essential Cointribune!

Download avatar Luc Jose Adjinacou

Luc Jose Adjinacou

Far from dampening my enthusiasm, an unsuccessful investment in cryptocurrency in 2017 only increased my enthusiasm. So I decided to study and understand the blockchain and its many uses and share my pen knowledge related to this ecosystem.

Honduras officially launches “Bitcoin Valley”.

Honduras officially launches “Bitcoin Valley”.

July Bitcoin price targets close at $24,000 as sentiment moves out of 'fear' zone

July Bitcoin price targets close at $24,000 as sentiment moves out of ‘fear’ zone