After hard days of the cryptocurrency industry, the Iranian government appears to be loosening its rules and regulations related to cryptocurrency mining farms after Iranian government officials have reportedly been approving and issuing the legal order for cryptocurrency mining farms in Iran.
In a report by the Financial Tribune, a medium for Iranian companies, it was revealed that Iran's Ministry of Commerce and Industries has started allowing operations for cryptocurrency mining, as recently the state appears to be loosening its rules and regulations to mining farms as before. The Iranian government has approved the operations of approximately 30 cryptocurrency mining farms across the country. According to the designated plan, the mining unit implanted in the Semnan province will house six (06) farms, and the Alborz province currently has four (04) crypto mining units. Along with the aforementioned Iranian provinces, few other regions, including Zanjan, East Azerbaijan and Mazandaran province, will host the mining units in Iran. Also, Tehran, the capital province of Iran.
More importantly, the Iranian government has provided more than 2,575 establishment permits dedicated to cryptocurrency mining entities. So far, Zanjan province has had almost 305 permits, and Fars province has 262 permits, while West Azerbaijan follows the flow with 247 permits.
Bitcoin ban in Iran
The authorization for the cryptocurrency mining company was disclosed in the market after the week following the restriction of more than 7,000 cryptocurrency mining machines exposed in Tehran. It followed the weeks of May when Bitcoin (BTC) became the controversial topic of causing fuel consumption due to Bitcoin mining that sought the attention of crypto concerns. With the correlation with China's ban on cryptocurrencies, Iran sought out the prevailing power outages in the country and thus took the aforementioned necessary steps related to the ban and authorizations related to cryptocurrency mining farms.
As China's cryptocurrency market witnessed hostility, another discretion from the United States (US) is also evidence of the scenario welcoming cryptocurrency miners to host in the state. More interestingly, Francis Suarez, the mayor of Miami, is putting all his efforts into minimizing energy fees to attract Bitcoin (BTC) miners looking for possible and convenient forms of mining at a lower cost.
Miami is currently trending as the cryptocurrency hub working on clean, low energy for Bitcoin (BTC) mining in the United States.